US regulators just greenlit crypto perps at home — long Coinbase as a huge new revenue stream unlocks
The main US derivatives regulator just cleared the way for crypto perpetual futures contracts — a hugely popular trading product — to be offered on American soil for the first time. Coinbase and Kalshi are among the first platforms allowed to offer them.
Idea
Perpetual futures contracts are the most-traded crypto product in the world, but until now Americans had to use offshore exchanges to access them. Bringing this product onshore is a massive revenue opportunity for Coinbase — these contracts generate enormous trading fees because they're used constantly by both speculators and hedgers. This isn't just a one-day headline; it's a structural change that gives Coinbase a brand-new, high-margin business line inside a regulated framework. When a company suddenly gets permission to sell its most popular product to a huge new customer base, the stock tends to re-rate higher over weeks, not just one session.