Coinbase Brings Perpetual Futures to Base App via Hyperliquid, Up to 50x Leverage

This is a notable convergence: a major US-listed exchange is routing its onchain app users into a third-party DeFi derivatives venue rather than building the stack in-house, which says as much about Coinbase's distribution ambitions as about Hyperliquid's liquidity. The 50x leverage ceiling places retail-facing perps inside a consumer app, a combination regulators have scrutinized elsewhere. The open question is whether this remains a Base-specific integration or becomes a template for how centralized exchanges plug into onchain venues — and how oversight of leveraged DeFi access via mainstream apps develops.