Coinbase Goes Full Degen: Now Offering 'Magnificent 7' Perps with 20x Leverage (Sorry, Yanks)

Coinbase has officially caught the degen bug, opening the casino doors for non-U.S. traders to punt on stock perpetual futures contracts around the clock. The play? Take leveraged positions on big-name U.S. equities 24/7, cash-settled in the stablecoin of choice, USDC, with the exchange offering a generous 10x on single names and a truly magnificent 20x on ETF products for those who like to live dangerously.

The initial lineup is a who's who of tech royalty, targeting the so-called 'Magnificent 7' stocks: Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla. For those who prefer to bet on the entire horse race rather than individual stallions, perps for the SPY and QQQ ETFs, tracking the S&P 500 and Nasdaq 100, are also on the menu in select jurisdictions—diversification for your degenerate portfolio.

In a move that traditional finance finds deeply unsettling, these perps have no expiry date, meaning you can hold your bag—or your diamond hands—forever. This is a core part of Coinbase's ambitious quest to become an 'Everything Exchange,' boldly expanding its product line beyond crypto because, let's be honest, the 24/7 gambling itch doesn't stop at Bitcoin. The exchange cited growing demand for non-stop equity action, much of which was previously getting its fix on decentralized platforms like Hyperliquid, where the only KYC is your wallet's transaction history.

Coinbase was quick to point out that the product runs on the same risk engine that powers its crypto derivatives markets, a comforting thought for anyone who's seen a liquidation cascade. It also allows for cross-margining across perpetual futures and spot positions, letting you efficiently leverage your entire portfolio into oblivion on one convenient platform. The contracts are served up on Coinbase Advanced for the retail degens and Coinbase International Exchange for the institutional whales.

In a classic "this is not financial advice, especially for you" moment, the company confirmed the product remains strictly off-limits to U.S. persons for now, but is 'working to expand this offering to additional regions in the future.' This rollout is just the latest in Coinbase's product blitz, following earlier launches of regulated crypto futures, 24/5 cash equities stateside, and even prediction markets—because why just trade stocks when you can also bet on them?