US regulators just greenlit crypto perpetual futures — long Coinbase as first-mover winner
The main U.S. derivatives regulator just gave the green light for crypto perpetual futures contracts to trade on American soil for the first time. Coinbase and Kalshi are among the first platforms cleared to offer them.
Idea
Perpetual futures are the most popular crypto trading product in the world — but until now, Americans had to use offshore exchanges to access them. Bringing this product onshore to regulated platforms like Coinbase is a structural change that should drive trading volume and revenue higher for the company. This isn't a rumor; the CFTC has formally issued approvals and guidance. Coinbase stands to capture a meaningful share of a market that has historically been dominated by offshore players. The stock tends to move sharply on regulatory wins, and this is one of the biggest green lights the U.S. crypto industry has received.