The world’s largest cryptocurrency exchange, Coinbase, has submitted an application to the US Commodity Futures Trading Commission (CFTC) for a derivatives trading platform.
Coinbase has submitted an application to the Commodity Futures Trading Commission (CFTC) for approval of its cryptocurrency futures trading platform.
Exchange of Cryptocurrencies
- Coinbase didn’t get the best deal despite providing cheaper rates.
- Coinbase has submitted an application to become a licensed futures commission merchant.
Coinbase is the second crypto-related junk bond issuer on the market. MicroStrategy Inc., a software firm, issued $500 million in notes to purchase Bitcoin in June. It is a cryptocurrency brokerage and exchange that intends to invest the additional funds in product development and acquisitions.
Coinbase didn’t get the best offer despite being able to reduce its pricing. The new debt has a credit rating that was below investment grade. Similar-grade paper yields 2.86 percent on average, according to Bloomberg bond indexes.
Because years of crypto hysteria is now — and rapidly — giving way to mainstream acceptance. As a result, investing a little extra to ensure that money are available to finance future initiatives may not be a bad idea.
Coinbase has filed to the National Futures Association to become a licensed futures commission merchant. As a result, the exchange aims to branch out from spot trading (exchanging one asset for another) and into the lucrative derivatives market. Individuals may place bets on future values.
Trading Derivatives is a Massive Industry.
The Commodity Futures Trading Commission requires that any business selling to the public register. Which oversees the regulation of all derivative products in the United States. To do so, they must first be NFA members, since the NFA handles the agency’s registration.
In both traditional and crypto markets, trading derivatives is a big industry. Binance’s futures volume is three times that of its regular market. On FTX, a global exchange widely promoted in the United States, the gap is considerably more substantial (where its more minor American affiliate is also seeking to offer derivatives trading).
According to estimates, these and other competitors (including the mostly unregulated Deribit) have created a $150 billion crypto derivatives industry. It may be the king of the American spot markets, but it has decided to cease trading in exotic locations.
The coinbase trade view is an application that Coinbase submitted to the CFTC in order to start trading crypto futures.
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