Coinbase Shares Soar 8.9% on AI Lab Debate, Traders Eye Crypto ‘Perps’
COIN•COIN•COIN•COIN•Coinbase shares climbed 8.93% on July 2 after Palantir CEO Alex Karp’s public critique of frontier AI labs sparked a broader tech rally. Investors also turned attention to crypto perpetual futures (‘perps’), with trading volumes in these derivatives rising sharply as alternative strategies gained traction.
On July 2, Coinbase shares rallied by 8.93% following Palantir CEO Alex Karp’s outspoken criticism of frontier AI research labs. The comments fueled a sector-wide tech rally, lifting major software and crypto-related equities, with Coinbase benefiting from renewed risk appetite.
Amid the rally, trading volumes in crypto perpetual futures (‘perps’) have spiked as investors seek alternative exposure to digital assets without expiry dates. These derivatives allow for leveraged positions on Bitcoin and other tokens, potentially increasing fee revenues for platforms like Coinbase as derivatives trading gains popularity.
