Crypto exchanges gear up to launch US perpetual futures ahead of rule change

Global crypto exchanges are racing to capitalize on the U.S. Commodity Futures Trading Commission's expected move to allow trading in perpetual crypto futures, a popular but risky derivatives product that has so far largely remained offshore.

Kraken's parent company said ​on Friday it was acquiring crypto derivatives platform Bitnomial for up to $550 million, giving it access to Bitnomial's perpetual futures offering. Coinbase, meanwhile, has rolled out long-dated futures contracts designed to resemble perpetuals, ‌while Robinhood has said it is exploring offering the products in the United States