CME CEO warns new perpetual futures could be disaster

CME Group Chairman and CEO Terry Duffy expressed significant concerns regarding the newly approved perpetual futures contracts in the U.S. He warned that these products could lead to a "disaster waiting to happen," particularly for retail traders. Duffy highlighted the stark difference in leverage levels compared to CME's own crypto products, noting that offshore markets can offer leverage up to 250x, whereas CME's is around 5x. He drew parallels between current market conditions and the lead-up to the 2008 financial crisis, expressing worry about unsophisticated investors being exposed to excessive risk.