In brief
- 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.
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.
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…
