Crypto.com launches US crypto perps with up to 5x leverage
Crypto.com and partner OG.com began offering crypto perpetual futures to eligible US traders, with up to 5x leverage, after registering with the NFA.
CryptoGroup Newsroom · · 2 min read
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Crypto.com and its derivatives partner OG.com have started rolling out crypto perpetual futures to "eligible" US traders, joining Coinbase and Kraken in a fast-growing market. The contracts trade around the clock in the Crypto.com App and on Crypto.com Exchange with leverage of up to 5x, The Block reports. Here is what to know.
What the product is
Perpetual futures, or "perps", let traders bet on a coin's price going up or down without an expiry date; a funding payment between longs and shorts keeps the contract close to the spot price. Crypto.com's version offers up to 5x leverage, isolated margin, and standard take-profit and stop-loss orders. Our guide to perpetual futures explains funding rates and how they differ from regular futures.
How it is regulated
Crypto.com said it recently registered as an introducing broker with the National Futures Association. The trades themselves go through OG.com, which describes itself as a "CFTC-regulated exchange and clearinghouse and futures commission merchant." The announcement did not spell out who counts as eligible.
Why US perps are arriving now
In May the CFTC opened the door to US crypto perpetuals. It approved bitcoin perps on Kalshi and gave Coinbase no-action relief to offer digital commodity derivatives. Kraken followed in June on Kraken Pro, after buying Bitnomial. The policy is still being contested: CME has sued, and the CFTC has told the court the exchange operator has no standing to fight it.
What comes next
Crypto.com also wants to move into stock derivatives. Nadex, the exchange operated under OG.com, registered with the SEC last month to trade security futures, and CEO Kris Marszalek has said the company is working with the SEC and CFTC on single-stock perpetual futures.
The risk to keep in mind
Even 5x leverage, low by offshore standards, means a 20% move against a position can wipe out the margin behind it. Read how crypto liquidations work before using any leveraged product; this article is not a recommendation to trade.
This article is for information only and is not financial advice. Crypto assets are volatile; do your own research. Read our disclaimer
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