US regulators green-light crypto perpetual futures — accumulate Coinbase before the revenue hits
The main U.S. derivatives regulator just cleared the way for crypto perpetual futures — the most heavily traded crypto product in the world — to be offered legally on American platforms for the first time.
Idea
Perpetual futures account for the vast majority of crypto trading volume globally, but until now they've only existed on offshore exchanges like Binance. The CFTC's decision lets Coinbase — already a registered U.S. platform — offer these products domestically, unlocking a massive new revenue stream that was previously off-limits. This is a structural competitive advantage: few other regulated U.S. exchanges are positioned to launch these products as quickly. Even as Bitcoin ETFs see heavy outflows, Coinbase's derivatives business could become a powerful new growth engine that investors haven't priced in yet.