Coinbase Follows Kraken's Lead, Opens Perpetuals Trading for US Customers
Main Idea
Coinbase has launched CFTC-regulated perpetual futures for U.S. traders, filling a gap in the market and leveraging recent regulatory clarity from the GENIUS Act.
Key Points
1. Coinbase introduced CFTC-regulated perpetual futures for U.S. customers, offering up to 10x leverage.
2. The launch follows the signing of the GENIUS Act, a landmark crypto law by President Trump, providing regulatory clarity.
3. Coinbase's derivatives dominate 90% of global crypto trading volumes but were previously inaccessible to U.S. traders due to regulatory complexity.
4. The move is seen as aligning U.S. markets with global standards and improving market depth.
5. Coinbase stock (COIN) experienced a dip to $413.63 from its opening price of $425.91, following an all-time high of $444.65 on July 18.
Description
Coinbase’s new contracts offer 5-year durations while touting lower fees, as it aims to lure U.S. traders from offshore platforms.
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