According to online reports, according to encryption journalist Eleanor Terrett, Caroline Pham, acting chairman of the U.S. Commodity Futures Trading Commission (CFTC), said that all public consultation proposals received by the agency on 24/7 derivatives and perpetual contract trading only involve crypto asset products, not traditional commodities. In a speech this week, Pham noted that the CFTC sees potential benefits of round-the-clock trading, including the ability to respond in real time to emergencies over the weekend, which is significant for risk managers. She cited the recent launch of 24/7 Bitcoin futures by Coinbase Derivatives as an example, saying that its weekend trading volume is already comparable to active weekdays. It is noteworthy that the CFTC is also considering using tokenized assets and stablecoins as collateral to address credit risk issues in the 24/7 market. Regarding perpetual contracts, the CFTC confirmed that they are already traded on the U.S. market, and Bitnomial launched Bitcoin perpetual futures in April. Some commentators want more crypto perpetual contracts to operate under U.S. regulation, citing greater efficiency and lower cost, but others warn that due to lack of convergence and additional risks, these contracts may not be suitable for physical goods.