CME CEO Expresses Deep Concerns Over US Regulator-Approved Crypto Perpetual Contracts

Odaily Planet Daily News: Terry Duffy, CEO of the Chicago Mercantile Exchange Group, stated that he is deeply worried about the perpetual contracts recently approved by US regulators. Duffy claimed that perpetual contracts offer little practical use for institutional investors while exposing retail investors to excessive risk. He completely disagrees with the CFTC's decision to approve the first batch of crypto perpetual contracts after a rapid review and said he has called the CFTC chairman to express his concerns.

Terry Duffy warned that perpetual contracts and prediction markets are fueling a retail speculation frenzy, which could be a disaster in the making. The first batch of perpetual contracts approved by the CFTC will be listed by Kalshi, and several US exchanges are also discussing launching their own perpetual contracts. (Bloomberg)