CME Group ⁠CEO ⁠Terry Duffy warned on Thursday ⁠that U.S. regulators are creating systemic risk by allowing perpetual cryptocurrency futures, ​and criticized the Commodity Futures Trading Commission's process for approving the novel products. Speaking at the Global Exchange & Fintech conference hosted by Piper Sandler, Duffy said the CFTC’s approval of "perps," futures products that typically carry large amounts of leverage, was ⁠extremely risky ⁠for the financial system. "It is a disaster waiting to happen," Duffy said. "I ​believe the market has been supplanted by the speculation market, and that does not suit ... (full story)