US regulators just legalized crypto perpetual futures — long Coinbase before traders pile in
The top U.S. derivatives regulator just cleared the way for crypto perpetual futures — a wildly popular trading product — to be offered legally on American exchanges for the first time. Coinbase and Kalshi are already moving to launch these products.
Idea
Perpetual futures are the most-traded crypto product globally, but until now Americans had to use offshore exchanges to access them. The CFTC just changed that, and Coinbase — already one of the biggest U.S. crypto platforms — is first in line to offer these contracts domestically. This opens up a massive new revenue stream that didn't exist before. When companies get a brand-new way to make money, their stock tends to climb as investors recalibrate expectations upward. Meanwhile, Bitcoin miners like CleanSpark could see a secondary benefit: easier U.S. access to crypto derivatives tends to boost overall trading activity and interest in the ecosystem.