US exchanges bet big on crypto derivatives amid tariff turbulence

Competition is heating up among US exchanges for control of the derivatives market for digital assets.

United States exchanges are betting big on cryptocurrency derivatives as market turbulence from US President Donald Trump’s looming trade war propels demand for the financial instruments. 

Since late 2024, exchanges including Coinbase, Robinhood, Kraken, and the Chicago Mercantile Exchange (CME) Group have been listing new types of crypto derivatives and mulling multibillion-dollar acquisitions as they vie for control of the burgeoning market. 

In April, the stakes became even higher after Trump’s unveiling of sweeping tariff plans sent financial markets into a frenzy and spiked crypto derivatives trading volumes. 

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