Trump's Support for Perps Puts Spotlight on New-Fangled Futures Contracts

At a recent White House event, former US President Donald Trump praised regulators for bringing Hyperliquid, an online exchange based in Singapore, to the US. This move has sparked interest in perpetual futures contracts, or perps, which are linked to various assets including crypto and crude oil.

Unlike traditional futures contracts, perps have no expiration date and trade around the clock, allowing for massive borrowing and potentially higher profits. Arthur Hayes, co-founder of BitMex, a Seychelles-based crypto exchange, views perps as 'a better product, period.'

The potential implications of this development are significant, with Trump's support suggesting a shift towards greater adoption of digital currencies in the US financial system.