Exchanges· ★★★· neutral· October 12, 04:35

Coinbase and Robinhood Futures Units Now Hold More Client Money Than US Retail Forex

—Coinbase Financial Markets held $346.9 million; Robinhood Derivatives $234.5 million in August
—Combined $581.4 million versus $470 million across all US retail forex dealers
—Two years earlier the two FCMs held only $40.3 million
—Retail forex balances are 15% below August 2015, with Gain Capital and OANDA at 71% of the total

Why it matters: The CFTC may limit retail crypto leverage to FCMs and banks, cementing Coinbase and Robinhood's grip on the derivatives channel.