🎯 Coinbase has set up its own clearinghouse

📰 With the CFTC approval in hand, Coinbase Clearing becomes the first licensed, proprietary derivatives clearing firm. Futures and options can bypass traditional intermediaries and settle directly on their own—saving margin and fees that go straight into their own pockets

💬 Acting as both referee and player—it’s incredibly efficient. But clearing is fundamentally about betting on credit; if it all blows up, they won’t be able to pull the plug in time. Traditional finance insists on carrying the risk themselves—this move is wild

🏷️ #Coinbase #CFTC #衍生品清算 #Regulatory compliance