SEC approves Coinbase earnings bets that stay settled when the numbers change
Summary
The SEC approved Cboe rules for binary options tied to Coinbase revenue and trading volume, and MARA Bitcoin production and holdings. Contracts settle using the specified metric in the relevant SEC filing; calls pay if the figure meets or exceeds a threshold, while puts pay if it falls below. Once an option has expired and settled, later restatements do not change its payout. Delayed disclosures may postpone processing without changing the expiration date, and alternative procedures may apply if a metric is unavailable. The approval does not confirm when the specific contracts will trade or whether Robinhood customers will be eligible; Cboe must also await effective clearinghouse filings before listing.
