US approves crypto perpetuals
CFTC cleared a U.S. exchange to list bitcoin perpetuals, allowing 24/7 trading without expiration dates. KalshiEX and Coinbase received regulatory approval.
Perps have gone from crypto-native primitive to one of crypto’s biggest trading categories. They’re always-on, don’t expire, and give traders a simpler way to express directional views. Earlier this year, we broke down how perpetual futures work, why they’re growing so quickly, and where builders are finding opportunity.
⚡ CFTC BACKS 24/7 TRADING :: U.S. derivatives watchdog issues advisory endorsing round-the-clock operations for blockchain-native infrastructure while warning traditional asset classes face extreme liquidity and manipulation risks under expanded schedules. #Regulation #Markets bitcoin:native
[Topics in the Past Hour] • Anthropic announces Claude Opus 4.8, reaching a valuation of $900 billion • Coinbase opens access to cryptocurrency options and perpetual futures for U.S. institutional investors • Coinbase launches access to cryptocurrency options and perpetual futures for U.S. institutional investors • UAE, in coordination with the U.S. and Israel, conducts dozens of airstrikes on Iran • UAE, in coordination with the U.S. and Israel, conducts dozens of airstrikes on Iran • Hong Kong-listed 2x leveraged ETF for SK Hynix surpasses $10 billion in AUM • PERP-DEX’s Lighter shifts strategy to a B2B order routing model • ReFi Hub announces an ICO adopting encrypted bidding and a “equity token” model
Coinbase just opened up 80% of the crypto market to Americans. And most people have no idea how big that is. For years, US traders could buy spot Bitcoin and trade a limited set of futures. But the biggest markets in crypto were happening somewhere else. Perpetual futures and options make up roughly 80% of global crypto trading volume, yet most US investors had no regulated way to access them. That forced many large traders and institutions to use offshore entities, spread capital across multiple platforms, and take on extra risk just to access the same products the rest of the world was already using. Now that changes. Coinbase has become the first CFTC-regulated platform that can connect US clients to global crypto options and perpetual futures markets. That includes access to Deribit, which alone holds more than $31 billion in Bitcoin options open interest and dominates the global crypto options market. The bigger story isn't just new products. It's that the US is finally getting regulated access to the part of crypto where most price discovery actually happens. Perpetual futures often drive short-term market moves. Options markets reveal how traders are positioning for future volatility. Institutional desks use both to hedge risk, express views, and manage large portfolios. Until now, much of that activity happened outside the reach of US regulation. Coinbase is trying to bring it back onshore. What this means in practice: → US institutions no longer need offshore workarounds to access major crypto derivatives markets → Coinbase becomes a much more serious competitor to global exchanges → More trading volume stays inside regulated US markets → Retail access is expected to follow The broader trend is becoming harder to ignore. Crypto isn't moving toward the traditional financial system. The traditional financial system is slowly building regulated access to the parts of crypto it once pushed offshore. And this may be one of the biggest steps yet. (link in comments) ↓
Kalshi announces perpetual futures, which could ultimately replace commodity and stock markets. Kalshi democratized media's monopoly on prediction. Now it's democratizing Wall Street 🙌
🚨 LAST MINUTE: The CFTC has approved the first #Bitcoin perpetual futures contracts to trade on a regulated exchange. This move is seen as a historic milestone for the #crypto derivatives market in the U.S. 👀