U.S. just greenlit crypto perpetual futures — Coinbase stands to win big
The top U.S. derivatives regulator just cleared the way for crypto perpetual futures — a wildly popular trading product — to be offered legally in America for the first time. Coinbase is among the first platforms poised to launch them.
Idea
Perpetual futures are the most-traded crypto product in the world — handling trillions in volume — but until now they've only existed on offshore exchanges. Bringing them onshore to regulated U.S. platforms is a massive new revenue stream for Coinbase, which is first in line to offer them. This is similar to when spot Bitcoin ETFs launched: the infrastructure provider closest to the product sees the biggest immediate benefit. Even though Bitcoin itself is struggling with ETF outflows, this regulatory win is specific to the exchanges, not the coin.