US just legalized crypto perpetual futures — Coinbase is the biggest winner
US regulators just cleared the way for crypto perpetual futures — the most popular crypto trading product in the world — to be offered on American exchanges for the first time. Coinbase is one of the first platforms approved to offer them.
Idea
Perpetual futures are the most heavily traded crypto product globally, but until now they've only existed on offshore exchanges like Binance. Bringing them to regulated US platforms is a big deal — it opens up a massive new revenue stream for Coinbase in trading fees and spread. The regulatory green light also signals that Washington is becoming more crypto-friendly, which tends to lift sentiment across the sector. As the largest publicly traded US crypto exchange, Coinbase is the most direct beneficiary. When new product categories open up, the first-mover platform usually sees a sharp increase in both revenue and investor interest.