Crypto Scenario Insights
What happened
Kraken has launched CFTC-regulated perpetual futures for eligible U.S. clients via its Bitnomial infrastructure.
What we think
Kraken's launch of CFTC-regulated perpetuals is a major structural milestone, with a 55% probability of driving a neutral, long-term consolidation of liquidity onshore.
Read the analysis
CFTC-regulated perpetuals launch on Kraken — will U.S. liquidity migrate onshore?
We explain what happened and what could follow. We do not forecast prices.