CME Group CEO warns against perpetual futures, urges action on Hyperliquid

Terry Duffy, CEO of the world's largest futures exchange operator CME Group, has expressed deep concern over perpetual futures contracts recently approved by U.S. regulators, Bloomberg reported. He argued that these products offer little real utility to institutional investors while exposing retail investors to excessive risk. Duffy added that he does not want to see individuals who misunderstand these products face potential bankruptcy, comparing the current speculative frenzy to 2007, just before the financial crisis. The U.S. Commodity Futures Trading Commission (CFTC) had previously approved the first perpetual futures contracts linked to cryptocurrency prices. Exchange operators, including CME and Intercontinental Exchange (ICE), are reportedly pressuring authorities to sanction Hyperliquid (HYPE), a platform that has popularized these products.