Wall Street’s dispute over perpetual futures has brought crypto exchanges, established trading firms and two federal regulators into a fight over contracts tied to individual stocks, after three venues received clearance to list products without a scheduled expiration and a judge questioned the legal basis while refusing an immediate trading halt, leaving the terms of retail access at stake.
Summary
- Applications from KalshiEX, Coinbase Derivatives and Bitnomial were deemed approved on November 2, with the CFTC announcing the stock-perpetual route on November 3.
- Judge Valerie Caproni denied a November 3 emergency halt while finding that the challengers were likely to succeed on…
