U.S. just legalized crypto perpetual futures — Coinbase is the biggest winner as traders come onshore
The main U.S. derivatives regulator just cleared the way for crypto perpetual futures contracts to trade on American exchanges like Coinbase. These super-popular trading products have mostly existed on offshore exchanges until now, so this opens up a massive new revenue stream for approved platforms.
Idea
Perpetual futures are the most popular crypto trading product in the world — but they've almost entirely run on offshore exchanges like Binance. Now the CFTC is letting U.S. platforms like Coinbase offer them domestically. This is a huge deal because it unlocks an entirely new revenue stream from traders who previously had to go overseas. When exchanges add major new products, their stock prices tend to rally hard as investors price in the coming revenue surge. Coinbase is the biggest winner here since they received specific regulatory clearance.