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Kalshi Launches CFTC-Approved Spot Bitcoin Perpetual Futures, $5.5B Traded in First Two Weeks

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Odaily News: Recent bitcoin volatility has triggered concentrated liquidations of leveraged long positions. On Aug. 22, single-hour liquidations reached $529 million, including $478 million in longs; on Aug. 23, another $84 million in crypto longs were liquidated within one hour.

Prediction market Kalshi launched the first spot bitcoin perpetual futures contract approved by the U.S. Commodity Futures Trading Commission (CFTC) on June 3, with $5.5 billion in cleared volume in the first two weeks. Kalshi CEO Tarek Mansour said the product offers regulated onshore perpetual contract trading for U.S. institutions.

Benjamin Schiffrin, director of securities policy at Better Markets, noted that perpetual futures are high-risk crypto products for retail investors, and the CFTC approval did not include additional investor protections. Analysis account Qmo said there is a large pool of bitcoin long liquidations between $62,000 and $67,000; trader Money Bunny disclosed that short liquidations reached $2.7 billion to $3.5 billion within 24 hours. (Forbes Digital Assets)

This content is for informational and educational purposes only and does not constitute investment advice related to BTCC. BTCC makes every effort but cannot guarantee the truthfulness, accuracy, or originality of the content above.