Coinbase Becomes First US Exchange Allowed to Offer Global Crypto Perps Trading
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
The CFTC gave Coinbase a green light to offer crypto perpetual futures on Friday, setting the stage for the U.S. exchange to soon begin connecting its customers to the lucrative and highly risky offshore market.
Key facts
- The last month alone has seen over $588 billion worth of crypto perps trading volume, according to DeFi Llama
- Coinbase is now effectively permitted to offer its customers access to the global crypto perpetual futures market through Deribit, an offshore crypto options exchange Coinbase acquired for $2.9
- Last fall, rapid fluctuations in crypto prices on a single afternoon wiped out $19 billion worth of crypto positions within minutes, principally because of the extent of leverage
- The CFTC has signaled for over a year that it planned to bring crypto perpetual futures, also known as “perps”, into the United States
Summary
The CFTC will allow Coinbase to offer U.S. customers access to offshore crypto perpetual futures through the exchange's subsidiary, Deribit. Crypto “perps” are high-risk leveraged bets on token prices with no expiration date. The move is expected to pave the way for other U.S. exchanges to offer similar products. Coinbase is now effectively permitted to offer its customers access to the global crypto perpetual futures market through Deribit, an offshore crypto options exchange Coinbase acquired for $2.9 billion last year.