The Coinbase CEO said the move would make the exchange the first platform to bring global perpetual futures liquidity to U.S. users, a market he said many access offshore via VPNs.
Coinbase has been approved to offer global crypto perpetual futures in the United States, Chief Executive Officer Brian Armstrong said in a post on X. Armstrong said the approval would make Coinbase the first platform to bring global liquidity in perpetual futures (crypto derivatives with no expiry date) to U.S. users. He added that about 50% of perpetual futures volume may come from U.S. users accessing offshore platforms through VPNs, underscoring the size of domestic demand for a product long concentrated outside the country. Armstrong also thanked CFTC (U.S. derivatives regulator) Chair Caroline Pham Selig and Paul Atkins.