Coinbase Gets Federal Approval For New Futures Offering: Set To Tap Into 75% Of Global Crypto Trading
Portfolio Pulse from Murtuza Merchant
Cryptocurrency exchange Coinbase Global Inc (NASDAQ:COIN) has received approval to offer federally regulated crypto futures trading to eligible customers in the US. The approval comes after the company's application to the National Futures Association in September 2021. The move will allow Coinbase to tap into the global crypto derivatives market, which accounts for approximately 75% of crypto trading volume worldwide.
August 16, 2023 | 12:50 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Coinbase's approval to offer crypto futures trading could potentially increase its customer base and trading volume, positively impacting its revenues.
The approval allows Coinbase to offer a new product to its customers, potentially attracting more users and increasing trading volume. This could lead to increased revenues for the company, positively impacting its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The approval of Coinbase's crypto futures trading could increase the liquidity and trading volume of Bitcoin, potentially impacting its price.
The approval allows Coinbase to offer Bitcoin futures trading, which could increase the liquidity and trading volume of Bitcoin. However, it's uncertain how this will impact Bitcoin's price in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
The approval of Coinbase's crypto futures trading could increase the liquidity and trading volume of Ethereum, potentially impacting its price.
The approval allows Coinbase to offer Ethereum futures trading, which could increase the liquidity and trading volume of Ethereum. However, it's uncertain how this will impact Ethereum's price in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50