Coinbase CEO Armstrong Talks About Perpetual Approval: What Comes Next?

Coinbase CEO Brian Armstrong says the exchange won approval to offer true global crypto perpetual futures in the US. He calls the clearance the product of years of quiet regulatory work.

Armstrong laid out the road ahead in a post on X this week. The clearance itself arrived in late May with little fanfare.

Coinbase Perpetual Futures Bring Global Liquidity to US Traders

The Commodity Futures Trading Commission (CFTC) issued a no-action letter on May 29. The relief allows Coinbase to route US customers to perpetual contracts on Deribit, the Dubai-based platform it acquired last year. As a result, Coinbase Financial Markets became the first US-regulated firm to offer this access.

The company confirmed the CFTC clearance covers both perpetuals and options. Until now, US traders had no compliant route to these products. Together, the two categories represent roughly 80% of global crypto trading volume.

The market behind the decision is enormous. Perpetual futures volume reached $61.7 trillion in 2025, up 29% year over year.

Therefore, Armstrong frames the approval as pooled global liquidity arriving through a compliant US channel.

Notably, the regulator moved fast once Coinbase asked. It answered the request within a day and published a 16-page framework. In addition, the agency said perpetual contracts tied to other assets will face a case-by-case review.

“Coinbase got approved to offer true global crypto perps in the US. This took many years of work, and we’re the first to offer this global liquidity to US users.”

Armstrong stated in his post on X.

Armstrong Rejects Claims Coinbase Is Moving Away From Crypto

Some critics argue the company has drifted from its crypto roots. However, the Coinbase co-founder firmly rejected that view. Instead, he said the firm uses crypto to upgrade every traditional financial service. The message extends his earlier plan to update the financial system across eight areas.

Clear Rules Could Bring More Crypto Jobs to the US

The CEO also framed the win as a jobs story. For example, he pointed to Coinbase’s new office in Charlotte, North Carolina, as evidence of a growing US footprint.

According to Armstrong, clear rules make it easier for the industry to build in the United States. That clarity, he argues, can create more American jobs. The stance aligns with Coinbase’s support for the CLARITY Act and its push for faster crypto rules abroad.

Attention now turns to asset selection, since Coinbase has not finalized which perpetual contracts US customers will see first. Meanwhile, rival exchanges may pursue similar relief, which would test how long the first-mover advantage lasts.