US exchanges are increasingly focusing on cryptocurrency derivatives in response to market volatility stemming from US President Donald Trump's trade policies. Major exchanges such as Coinbase, Robinhood, Kraken, and the Chicago Mercantile Exchange (CME) have introduced new crypto derivatives and are considering significant acquisitions to capture a larger share of this expanding market. Following Trump's announcement of new tariff plans in April, derivatives trading volumes surged notably, with net open interest in Bitcoin futures increasing by about 30% in just a few weeks. Coinbase reported a year-over-year rise of over 10,000% in trading activities on its derivatives platform, while CME's new futures contracts, including those related to altcoins, have seen impressive trading volumes. The heightened competition has prompted exchanges to pursue mergers and acquisitions, exemplified by Coinbase's bid to acquire Deribit and Kraken's purchase of NinjaTrader. Experts assert that while traditional markets face challenges from tariffs, crypto derivatives platforms have thrived, serving as both speculative venues and protective mechanisms amid global trade uncertainties.

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