Arthur Hayes ‘flattered’ as Coinbase backs US stock perps

Arthur Hayes said he was “flattered” by Coinbase’s defense of US stock perpetual futures, a decade after BitMEX launched perpetual swaps.

Arthur Hayes, co-founder of BitMEX, said he was “flattered” by Coinbase’s support for the Commodity Futures Trading Commission (CFTC) in a US legal dispute over stock perpetual futures.

“When we launched the perpetual swap at BitMEX in 2016, Washington’s reaction was less than warm,” Hayes told Cointelegraph. “Ten years later, Coinbase is in federal court defending the right to offer them on US stocks. I’m flattered. Imitation is the sincerest form of regulation.”

Coinbase and five other companies submitted a brief on Monday opposing the alliance’s request to block trading in perpetual futures tied to individual stocks. The court accepted the brief on Tuesday.

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