George Steer and Nolan ShafferJul 20, 2026 – 4.00pmNew York | Retail traders are piling into so-called perpetual futures that were only cleared to trade in the US in May despite consumer advocates branding them “the most dangerous product in crypto”.On certain corners of TikTok, baby-faced investors flaunt the sports cars and villas they claim to have bought with their winnings on these highly leveraged derivatives, which trade all day every day of the year and allow big bets with only a small cash stake.Financial TimesSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Day traders flock to ‘the most dangerous product in crypto’
On certain corners of TikTok, baby-faced investors flaunt the sports cars and villas they claim to have bought with their winnings on highly leveraged “perps”.
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