TechFlow news: On June 17, market sources reported that Terry Duffy, CEO of the CME Group, is set to step down. This news may have contributed to a 4% pre-market decline in CME Group’s stock price.
CEO Terry Duffy had previously expressed “serious concerns” about perpetual contracts recently approved by U.S. regulators. He stated that perpetual contracts offer “virtually no practical utility” for institutional investors while exposing retail traders to excessive risk. Moreover, he “strongly disagrees” with the CFTC’s decision to approve the first batch of crypto perpetual contracts following a rapid review, warning that perpetual contracts and prediction markets are fueling rampant retail speculation.
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