Guys!! The “perpetual contracts” that crypto traders have been playing with for years are about to move to individual U.S. stocks—and Wall Street went running to court the very same day, haha!!!
CFTC Chair Selig said on November 3 that perpetual futures on individual stocks can begin trading on regulated U.S. exchanges. Applications were filed by Kalshi, Coinbase Derivatives, and Bitnomial. Basically, you can keep long or short positions open without owning Apple or Microsoft stock, and without having to settle the contracts～
But just a few hours later, the Capital Markets Alliance—a group that includes Cboe and Citadel Securities—sued the CFTC in the Southern District of New York (case no. 1:26-cv-09608), arguing that these are “security-based swaps” and should fall under SEC jurisdiction. They’re asking the court to revoke the approval and issue an injunction first (Business Wire / official Cboe statement). The court hasn’t ruled yet.
Honestly, how is this about protecting retail investors? This is a turf war!!! The old-school exchanges and market makers are afraid that crypto’s 24/7 perpetual trading model will siphon volume away from U.S. stocks～ But a word of caution: perpetuals + individual stocks + leverage can be thrilling for beginners, and it’s also really easy to get liquidated. Don’t go all in right away!
Crypto’s being pretty kind to us today: I just checked CoinGecko—Bitcoin’s around 77,700, ETH around 2,290, and both are up a little, about 1%–2% over the past 24 hours～
If you could open perpetual positions on Apple or Nvidia on Coinbase, would you try it?
$BTC $COIN
#美股 #Crypto
CFTC Chair Selig said on November 3 that perpetual futures on individual stocks can begin trading on regulated U.S. exchanges. Applications were filed by Kalshi, Coinbase Derivatives, and Bitnomial. Basically, you can keep long or short positions open without owning Apple or Microsoft stock, and without having to settle the contracts～
But just a few hours later, the Capital Markets Alliance—a group that includes Cboe and Citadel Securities—sued the CFTC in the Southern District of New York (case no. 1:26-cv-09608), arguing that these are “security-based swaps” and should fall under SEC jurisdiction. They’re asking the court to revoke the approval and issue an injunction first (Business Wire / official Cboe statement). The court hasn’t ruled yet.
Honestly, how is this about protecting retail investors? This is a turf war!!! The old-school exchanges and market makers are afraid that crypto’s 24/7 perpetual trading model will siphon volume away from U.S. stocks～ But a word of caution: perpetuals + individual stocks + leverage can be thrilling for beginners, and it’s also really easy to get liquidated. Don’t go all in right away!
Crypto’s being pretty kind to us today: I just checked CoinGecko—Bitcoin’s around 77,700, ETH around 2,290, and both are up a little, about 1%–2% over the past 24 hours～
If you could open perpetual positions on Apple or Nvidia on Coinbase, would you try it?
$BTC $COIN
#美股 #Crypto