Topic: #perps-week-2026
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Perpetuals' Systemic Risk Lies in Venue Design, Not the Contract
As perpetual futures enter regulated markets, critics warn they pose systemic risk. But the danger comes from how venues are built — leverage limits, margin rules, and liquidation handling — not the derivative itself, argues Bullish Exchange's Chris Tyrer.
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DRW CEO: Regulators Misunderstand Perpetual Futures as Gambling
Don Wilson, CEO of trading firm DRW, argues that perpetual futures are straightforward contracts without expiration dates, and regulators should evaluate them on economic substance rather than legal labels. His comments reflect growing interest in bringing regulated perps to traditional U.S. markets.
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Perpetual Swaps: BitMEX's 2015 Innovation Dominates Crypto Trading
Perpetual swaps, which BitMEX launched in 2015, have become the dominant trading instrument in crypto, processing an estimated $40 to $50 trillion annually. The mechanism eliminates expiry dates and rolling requirements, allowing traders to hold positions indefinitely while funding rates keep prices aligned with spot markets.