Coinbase Files for Cardano and Natural Gas Futures
Summary
- Coinbase has officially filed with the CFTC to offer futures for Cardano ($ADA) and Natural Gas (NGS).
- The Coinbase team is aiming for clarity on the filing by March 31, 2025.
- Positive sentiment surrounding Cardano ($ADA) surged following the announcement from Coinbase.
As a leading crypto exchange in the United States, Coinbase not only serves domestic investors but also caters to a global audience through its International Exchange platform. Various U.S. government agencies utilize Coinbase’s blockchain tools to combat illicit activities within the crypto space.
On March 15, 2025, Coinbase Institutional revealed its filing for futures contracts on Cardano ($ADA) and Oil Natural Gas (NGS).
Currently, Coinbase is working with the Commodities Futures & Trading Commission (CFTC) to self-certify both products.
This announcement marks a significant expansion for Coinbase in both energy and cryptocurrency derivatives, with expectations of approval by March 31. However, the official launch of these products may take additional time.
Charles Hoskinson, the founder of Cardano, expressed his enthusiasm over the increasing availability of $ADA-related products following this news.
Bull Sentiments Around Cardano ($ADA)
The announcement surrounding Cardano ($ADA) has instilled considerable confidence among $ADA investors. Following the news, the token experienced a price surge of 5.63%, although it later encountered a correction.
The current trading price for $ADA is $0.73, reflecting a 3.37% increase over the past 24 hours.
Based on the current trading patterns, analyst Ali Chart predicts that $ADA could witness an upward movement of around 15% shortly.
Coinbase & Legal Hurdles
Since 2024, Coinbase has faced numerous legal challenges from the United States Securities and Exchange Commission (SEC). Fortunately, the SEC has recently announced the conclusion of its case against Coinbase. CEO Brian Armstrong expressed his relief while emphasizing the company’s ongoing commitment to establishing clear crypto regulations.
Coinbase To Resume Services in India
Just days ago, Coinbase confirmed that it has registered with India’s Financial Intelligence Unit (FIU), paving the way for the resumption of its services for Indian crypto investors.
$COIN Price Action
The current trading price of Coinbase’s stock ($COIN) stands at $183, marking a 3.17% increase over the last 24 hours.
Read also: Bitcoin Hype Surges in Russia as Trump Signs Bitcoin Strategic Reserve (BSR)!
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