🔥 Land A High Paying Web3 Job In 90 Days LEARN MORE

Exciting! Coinbase Set to Launch 3 New Leveraged and CFTC-regulated Futures

In this post:

  • Coinbase set to launch the first CFTC-regulated futures for Doge, Bitcoin Cash and Litecoin
  • Coinbase Derivatives announced that the launch is scheduled for April.
  • It’s speculated that the leveraged contracts will also be available for trade on Coinbase partner platforms.

The Coinbase cryptocurrency exchange platform, through its derivatives department, announced that the platform is preparing to launch new products for its investor pool on April 1st. The recent announcements to introduce cash-settled futures contracts for three major altcoins. Coinbase International took to X (formerly Twitter), to announce the launch. The announcement comes as a huge boost of approval for Bitcoin Cash, Litecoin, and Dogecoin. The three Altcoins mentioned have been in the top ten cryptocurrency space for a long time, and this announcement brings hope to long-time investors of the various tokens. 

The announcement serves as a further endorsement of Dogecoin, a cryptocurrency that has often been viewed as the father of meme coins. The coin is clearly transitioning to a more stable cryptocurrency with clear-cut use cases. Considering Dogecoin has often been listed as a legitimate cryptocurrency that can be used to purchase Tesla vehicles, the coin has since recorded significant growth. 

The crypto exchange platform teased crypto fans, hinting that their first leveraged and CFTC-regulated futures contracts for Bitcoin Cash, Litecoin, and Dogecoin could be available to trade on different platforms. Coinbase encouraged cryptocurrency investors to be on the lookout for these leveraged futures as they will be available to trade on partner platforms as well. 

See also  UK court rejects Craig Wright’s claims of being Bitcoin’s creator

This is a huge step for crypto enthusiasts and it marks a crucial step towards broader adoption and increased accessibility for digital assets. 

Behind the Scenes; What steps did Coinbase take?

Coinase Derivatives filed a request to list new Futures contracts to the US Commodity Futures Trading Commission (CFTC) on March 7th. The exchange platform however, expected delays during the regulatory process and therefore planned to launch the products anyway, as they are confident the leveraged contracts adhere to the legal guidelines established by the US Commodity Futures and Trading Commission. 

In Coinbase’s application to list Dogecoin Futures, it stated that the Doge cryptocurrency has withstood the test of time and undoubtedly grown beyond its reputation as a memecoin. 

The cryptocurrency’s popularity across the board has soared even more after the announcement, witnessed by the sharp (18%) increase in DOGE price.

What Coinbase looks to achieve

The cryptocurrency exchange has played around with the idea of crypto-leveraged derivatives for a long time. Back in 2022. The crypto exchange platform clearly mentioned that it has intentions of making cryptocurrency derivatives contracts reachable to its retail investors. Per its mission, Coinbase reportedly acquired FairX, a derivatives exchange platform regulated by CFTC. 

Coinbase, one of the largest crypto exchange platforms in the market is continuing to drive cryptocurrency adoption through different products. These steps are received positively within the Web 3 space, and crypto investors are undoubtedly excited as they wait for this opportunity, come April 1st, to access CTFC-regulated derivatives of well-known cryptocurrencies like BitcoinCash, Litecoin, and Dogecoin. 

See also  DMM Bitcoin exchange shuts down after a $321 million fraud incident

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap

Share link:

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Editor's choice

Loading Editor's Choice articles...
Cryptopolitan
Subscribe to CryptoPolitan