CME’s Terry Duffy calls U.S. crypto perps a disaster waiting

CME Group CEO Terry Duffy warned that the approval of cryptocurrency perpetual futures in the U.S. poses significant risks for investors and the financial system. He criticized the high leverage and automatic liquidations of these products, calling them a “disaster waiting to happen.” Concerns arise as firms like Kalshi, Coinbase, and Kraken enter the market. Duffy also questioned the approval process by regulators, suggesting a lack of comprehensive review for these complex financial instruments. Despite the rapid expansion of regulated crypto perps, institutional demand remains limited, according to Duffy.