Coinbase Owns Its Derivatives Stack With New CFTC Approval
On Tuesday, Coinbase achieved a major regulatory milestone by securing approval from the Commodity Futures Trading Commission (CFTC) to operate its own in-house derivatives clearinghouse. According to Decrypt, Coinbase Clearing will now handle fully collateralized contracts, accepting USDC as collateral with around-the-clock settlement capabilities.
While the exchange now owns every layer of its derivatives stack for these fully collateralized products, The Defiant reports that Coinbase will continue to utilize outside partners for its margined futures and its planned single-stock perpetual contracts. This development marks a significant infrastructure shift for crypto derivatives, a sector closely monitored by traders at predictionmarketstools.com.
Kalshi Rebuts Wash-Trading Accusations in ETH Markets
In the event contract space, Kalshi is pushing back against recent allegations of faking its crypto trading volume. Data extracted from the exchange's own public API recently revealed that the vast majority of the dollar volume in its Ethereum perpetual futures was dominated by trades of a single repeating size.
Addressing the weekend wash-trading accusations, the CFTC-regulated exchange denied faking its volume. Kalshi clarified that the repeating trade sizes originated from a single market maker that the platform pays to maintain order book liquidity. According to the exchange, its incentive programs are publicly filed, and the designated market maker was actually losing money to faster traders rather than engaging in artificial volume inflation.