US regulators just greenlit crypto perpetual futures — long Coinbase as the first mover
US regulators just gave the green light for crypto perpetual futures contracts — a wildly popular trading tool that until now only existed on offshore exchanges. Coinbase is one of the first platforms approved to offer them in America.
Idea
Perpetual futures are the most heavily traded crypto instrument in the world — they handle more volume than regular spot trading on most days. Until now, US traders had to use offshore exchanges to access them. Bringing this product onshore through Coinbase means a massive new revenue stream, since exchanges earn fees on every trade. This is similar to when Bitcoin ETFs launched — a regulatory wall came down and capital flooded in. Coinbase being first-mover here gives them a huge competitive advantage over rivals.