Coinbase has announced upcoming support for perpetual futures for Aerodrome Finance, Beam, and Drift Protocol.

Perpetual futures trading for Aerodrome Finance (AERO), Beam (BEAM), and Drift (DRIFT) will go live on Coinbase International Exchange and Coinbase Advanced, the U.S.-based exchange announced on Jan. 9.

Specifically, Coinbase plans to open trading for AERO-PERP, BEAM-PERP, and DRIFT-PERP markets on Jan. 16, 2025. The assets are expected to go live on or after 9:30 a.m. UTC.

Perpetual futures or “perps” offer contracts where traders can speculate on cryptocurrency or other assets’ price. 

Unlike futures contracts, perps do not have an expiration date. Coinbase announced the launch of perpetual futures trading in May 2023 and expanded the service to non-U.S. retailers in September. Recent perps listings for crypto tokens include support for ORDI, WLD and PEPE.

Following the latest announcement, the prices of Aerodrome Finance, Beam, and Drift saw slight gains, with the three bouncing off intraday lows alongside other cryptocurrencies. However, all three assets—AERO, BEAM, and DRIFT—remained in the red as of the time of writing, having declined earlier in the day as Bitcoin (BTC) struggled for upside momentum.

Aerodrome Finance is a decentralized exchange on Base, offering liquidity solutions for various digital assets. Beam operates a gaming network powered by the BEAM token. Following Avalanche’s Etna upgrade, Beam has transitioned to a fully-fledged Layer 1 blockchain, unlocking new possibilities for network growth.

Meanwhile, Drift is a Solana-based decentralized exchange (DEX) that enables users to trade, earn, and participate in prediction markets.

The U.S. Commodity Futures Trading Commission (CFTC) has issued a fresh subpoena to crypto exchange Coinbase just days ahead of President Joe Biden leaving office. This comes as part of the US CFTC’s ongoing investigation into betting markets Polymarket thereby requiring Coinbase to provide specific information regarding customers involved in the case.

US CFTC Seeks Coinbase Customers

Under the outgoing Biden administration, the CFTC has cracked a whip issuing a subpoena to crypto exchange Coinbase in the Polymarket lawsuit.

After receiving an email for the same from the exchange, Eric, co-author of Ethereum’s EIP-1559, shared this information in the public domain. “The dems crypto pivot truly was something else!” he wrote.

The exchange informed its customers through email that it may be required to share account-related information with the US CFTC. However, the company noted that no action is required from customers at this time.

Biden’s CFTC is subpoenaing customer info from @coinbase in their case against @Polymarket pic.twitter.com/YlCdUPwHs7

— eric.eth (@econoar) January 8, 2025

Crypto Exchange Need to Comply Soon

The action comes with a deadline, unless Coinbase receives a motion to dismiss or other legal documentation by the close of business on January 15, 2025, the company will be required to comply.

The announcement comes just ahead of the CFTC chair Rostin Behnam stepping down before President-elect Donald Trump takes oath on January 20. The Trump transition team has reviewed at least six potential candidates to lead the US CFTC, aligning with the president-elect’s pledge to establish a more crypto-friendly regulatory framework.

Polymarket And Its Regulatory Scrutiny

Polymarket, a decentralized prediction market platform, gained huge popularity during the US Presidential Elections in 2024 drawing attention from regulators like the US CFTC. The regulator demanded limiting the operation of the prediction market while labeling them as gambling platforms.

Unlike the promises by Vice President Kamala Harris of a crypto pivot, the Democrats have continued with the crypto crackdown even in their last days in office. Coinbase and the CFTC have yet to comment publicly on the matter, but the subpoena marks another pivotal moment in the intersection of U.S. regulatory oversight and the cryptocurrency industry.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.