Distribution kings to dominate US perps market
The guest and hosts argued that if the US releases regulatory guidance for perpetual swaps, established retail platforms with existing distribution will dominate the market over new startups.
The argument
The speakers noted that market shares are highly sticky and that platforms like Coinbase and Robinhood already possess the necessary US retail distribution and compliance infrastructure to quickly capture the regulated perps market.
The thesis, stress-tested
✓ What validates it
- ✓CFTC releases official perps guidance for US markets
- ✓Coinbase or Robinhood launches a regulated domestic perps product showing immediate volume growth
▸ Risks discussed
- ▸Traditional brokers successfully leverage their existing options trading bases to capture perp volume
- ▸ETF options continue to cannibalize demand for leverage trading among US retail investors
Hear it yourself
"Exactly. So as long as you do stuff now do stuff is a pretty broad standard. And, again, the infinite ingenuity of crypto companies. I'm assuming that do stuff is like log in and click a button. You know? It's like it's like, you know, it's it's like, you know, Coinbase learn and earn or something. Like, that's that's that's technically doing stuff. So I don't know. We'll see how this evolves. That's so funny, actually, that, like, 21 and earn somehow are, like Right? Perfect for this bill, actually. Totally. Totally. Totally."
05:40
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