Crypto Exchanges
By Bruce Buterin
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What Perpetual Futures Actually Mean for Coinbase. Perps are known for their liquidity. That's the draw.
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A Regulatory Precedent That Other Exchanges Will Watch. Being first matters in this business. Coinbase getting this approval sets a benchmark — not just…
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Coinbase just got the green light. The U.S.-based exchange secured regulatory approval to offer global perpetual futures trading — a first for any American crypto exchange.
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Perpetual futures are basically the bread and butter of offshore trading desks. They let traders speculate on crypto prices without worrying about an expiration date — positions…
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The exchange hasn't disclosed which cryptocurrencies will be available in the initial rollout.
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Unclear, too, is the exact launch date. Coinbase said further announcements are coming, but didn't specify a timeline.
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Perps are known for their liquidity. That's the draw. Traders don't have to roll contracts, don't have to worry about settlement windows, and can maintain leveraged exposure to…
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Coinbase wants a piece of that. The company has been pushing hard to diversify its revenue beyond simple spot trading, which is more vulnerable to market downturns.
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Institutional investors are also part of the calculus here. Big funds and trading desks that already use Coinbase's institutional products — custody, prime brokerage, OTC — now…
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More context: CFTC Greenlights Kalshi Crypto Futures and Hands Coinbase a No-Action Shield
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Being first matters in this business. Coinbase getting this approval sets a benchmark — not just commercially, but regulatorily. Other U.S.
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That could reshape the domestic exchange landscape. Right now, American traders who want perps either use offshore platforms — which carry their own risks — or skip the product…
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Whether that logic holds, and whether other exchanges get similar approvals, is still murky. Regulatory decisions aren't always consistent, and the environment can shift.
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The exchange positions itself now to attract a broader mix of users — retail traders who want leverage, institutional desks who need hedging tools, and high-frequency shops that…
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See also: Coinbase Opens U.S. Perpetual Futures and Options to Retail and Institutional Traders
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