BTC Perpetuals Clear US Regulator Hurdle; Token Rules Stall
Trading infrastructure cleared an existing CFTC pathway in months, while token fundraising awaits an SEC system still being written.
Every Zipp story tagged #Perpetuals, newest first.
Trading infrastructure cleared an existing CFTC pathway in months, while token fundraising awaits an SEC system still being written.
The rebound puts on-chain perpetual trading back in focus, but open interest still has ground to cover before matching its 2025 peak.
Selig is sketching a 'crypto asset market' category that, if finalized, hands every offshore perpetuals venue a concrete rulebook and potentially a US passport.
Trendle's model gives social data a derivatives use case, turning changes in online interest into exposure that can run in either direction.
The split between improving perpetual demand and lagging US spot buying leaves the bottoming process without broad confirmation as volatility compresses.
The 2.2x gap to the next-closest venue showed that RWA perps open interest was concentrated rather than evenly distributed across centralized exchanges.
KuCoin's change gives a single funding-rate extreme a longer market footprint, while renewed ETF inflows and heavy futures positioning keep Bitcoin's next move two-sided.
The strategy could intensify competition for perpetual trading flow, but rewards remain prospective and derivatives activity carries leverage and liquidation risk.
Asset coverage is becoming an adoption signal for decentralized derivatives, with activity extending into equity and commodity-linked markets.
K33 flags a self-reinforcing liquidity drought: spot volume fell 18% last week and 7-day volatility hit a Christmas 2025 low, while elevated perp open interest leaves the market exposed to…
The bigger signal is product breadth: Kraken is linking crypto's always-on derivatives model with traditional market exposure inside its funded trading program.
Spot markets and CEX futures also turned lower, making July's decline a broader crypto activity signal rather than a DEX-only move.
The UK rollout broadens Coinbase's institutional product set, giving professional investors more ways to hedge and take leveraged crypto exposure.
Renewed ETF inflows are meeting elevated leverage, making liquidity the key variable between a continued advance and a rapid futures unwind.
The milestone puts on-chain perpetuals at meaningful scale and raises the stakes for liquidity, execution and risk controls.
BitMEX couldn't get sold in a hot crypto M&A market that closed 144 deals worth $11.8B YTD, proof that founder-controlled ownership and lingering legal baggage sink exchanges regardless of cycle.
Volume has grown 1,472x since the start of 2025, and perps now handle 13x the trading that tokenized spot does on the same assets, putting the 24/7 product ahead of Wall Street's tokenization push.
Hyperliquid ran SpaceX at launch, CME shrank oil contracts for 24/7 retail access, and the CFTC opened a 67-question docket on perpetual crude.
The venue is aiming for a Designated Contract Market designation, the same regulatory lane that runs CME's event contracts, putting it in line with US-regulated peers rather than offshore perpetuals.
Perps volume is migrating to chains built for speed, but Ethereum's deeper bet is becoming the settlement and collateral layer that backs them.