Perps are crypto's most important product after stablecoins, but most trading still happens offshore. Backpack CEO Armani Ferrante says bringing perps onshore is critical as…
Original source excerpt
Perps are crypto's most important product after stablecoins, but most trading still happens offshore. Backpack CEO Armani Ferrante says bringing perps onshore is critical as equity perps take off "T…
Perps are crypto's most important product after stablecoins, but most trading still happens offshore. Backpack CEO Armani Ferrante says bringing perps onshore is critical as equity perps take off "This is a very important thing that's happening. Make no mistake about it, perps are the most important product in crypto next to stablecoins. It is the thing that defines the liquidity profile and price discovery for basically all crypto assets." "Right now, all of that price discovery is happening on offshore, unregulated venues. We've seen different blowups over the past several years, really since the genesis of the industry." "Equity perps are the fastest growing segment within perps themselves. You have weekend trading going, whether it's onshore or not. And so it's super important to bring these into the regulatory perimeter."
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