Coinbase introduces pre-IPO perpetual futures, starting with SpaceX contracts

Coinbase said earlier this week it rolled out pre-IPO perpetual futures, launching first with a SpaceX-linked contract for eligible users outside the United States. The product lets traders take long or short exposure to SpaceX's implied valuation with P&L settled in USDC, and Coinbase says positions will convert into a standard SpaceX perpetual contract if the company later completes an IPO.