{"id":62516,"date":"2026-05-29T20:38:28","date_gmt":"2026-05-30T00:38:28","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/crypto-giants-surge-on-us-futures-approval-meta-sets-ambitious-10m-wearable-sales-target\/62516\/"},"modified":"2026-05-29T20:38:28","modified_gmt":"2026-05-30T00:38:28","slug":"crypto-giants-surge-on-us-futures-approval-meta-sets-ambitious-10m-wearable-sales-target","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/crypto-giants-surge-on-us-futures-approval-meta-sets-ambitious-10m-wearable-sales-target\/62516\/","title":{"rendered":"Crypto Giants Surge on US Futures Approval; Meta Sets Ambitious 10M Wearable Sales Target"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_83 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/crypto-giants-surge-on-us-futures-approval-meta-sets-ambitious-10m-wearable-sales-target\/62516\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/crypto-giants-surge-on-us-futures-approval-meta-sets-ambitious-10m-wearable-sales-target\/62516\/#Crypto_Markets_Enter_New_Era_with_Perpetual_Futures\" >Crypto Markets Enter New Era with Perpetual Futures<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/crypto-giants-surge-on-us-futures-approval-meta-sets-ambitious-10m-wearable-sales-target\/62516\/#Metas_Hardware_Pivot_The_10_Million_Unit_Ambition\" >Meta\u2019s Hardware Pivot: The 10 Million Unit Ambition<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/crypto-giants-surge-on-us-futures-approval-meta-sets-ambitious-10m-wearable-sales-target\/62516\/#Social_Media_Giants_Settle_Kentucky_%22Addiction%22_Lawsuit\" >Social Media Giants Settle Kentucky &quot;Addiction&quot; Lawsuit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/crypto-giants-surge-on-us-futures-approval-meta-sets-ambitious-10m-wearable-sales-target\/62516\/#Global_Trade_and_Geopolitics_Cuba_and_Canada\" >Global Trade and Geopolitics: Cuba and Canada<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/crypto-giants-surge-on-us-futures-approval-meta-sets-ambitious-10m-wearable-sales-target\/62516\/#Mining_and_Corporate_Credit_Updates\" >Mining and Corporate Credit Updates<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Coinbase (<a href=\"\/stock\/COIN\">COIN<\/a>) and Robinhood (<a href=\"\/stock\/HOOD\">HOOD<\/a>) shares rallied<\/strong> following the <strong>CFTC&#39;s landmark approval of crypto perpetual futures<\/strong> in the U.S., opening a multi-trillion dollar market to domestic traders.<\/li>\n<li><strong>Meta Platforms (<a href=\"\/stock\/META\">META<\/a>) has set a bold sales goal of 10 million wearable units<\/strong> for late 2026, anchored by a new <strong>AI-powered pendant<\/strong> and an expanded smart glasses lineup.<\/li>\n<li><strong>Four major social media companies settled a bellwether lawsuit<\/strong> with a Kentucky school district for a combined <strong>$27 million<\/strong> over alleged mental health harms to students.<\/li>\n<li><strong>U.S. and Cuban military officials held rare high-level talks<\/strong> at the perimeter of the Guantanamo Bay naval base to discuss &quot;operational security&quot; amid rising regional tensions.<\/li>\n<li><strong>Moody\u2019s upgraded Molex\u2019s credit rating to A3<\/strong> with a stable outlook, citing the company&#39;s strengthened balance sheet and market position.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Crypto_Markets_Enter_New_Era_with_Perpetual_Futures\"><\/span>Crypto Markets Enter New Era with Perpetual Futures<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The U.S. Commodity Futures Trading Commission (CFTC) issued a historic &quot;no-action&quot; letter on Friday, effectively <strong>legalizing the trading of crypto perpetual futures<\/strong> for regulated U.S. exchanges. Shares of Coinbase (<a href=\"\/stock\/COIN\">COIN<\/a>) and Robinhood Markets, Inc. (<a href=\"\/stock\/HOOD\">HOOD<\/a>) surged on the news, as <em>perpetual swaps currently account for nearly 80% of global crypto trading volume.<\/em><\/p>\n<p>Coinbase CEO Brian Armstrong hailed the decision as the end of a &quot;regulatory gap&quot; that had forced U.S. institutional capital into offshore markets. The approval specifically clears the path for Coinbase to integrate <strong>Deribit\u2019s liquidity<\/strong>, following its acquisition of the derivatives giant last year. Analysts expect this shift to significantly boost <strong>trading fee revenue<\/strong> for domestic platforms throughout the second half of 2026.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Metas_Hardware_Pivot_The_10_Million_Unit_Ambition\"><\/span>Meta\u2019s Hardware Pivot: The 10 Million Unit Ambition<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Meta Platforms (<a href=\"\/stock\/META\">META<\/a>) is doubling down on its hardware ecosystem with a leaked internal memo detailing a <strong>10 million sales goal for wearables<\/strong> by the end of 2026. The roadmap features a highly anticipated <strong>AI pendant<\/strong>\u2014a device designed to record and transcribe conversations in real-time\u2014and a refreshed lineup of AI-integrated glasses.<\/p>\n<p>Despite <strong>Reality Labs<\/strong> reporting ongoing operational losses, CEO Mark Zuckerberg is reportedly pivoting the division toward &quot;wearables for work.&quot; <em>The Information<\/em> reports that Meta&#39;s strategy aims to capture <strong>6.8 million monthly active users<\/strong> for its AI hardware by year-end. This aggressive push comes as the company seeks to move beyond the smartphone-dominated era and establish a lead in the <strong>ambient computing<\/strong> market.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Social_Media_Giants_Settle_Kentucky_%22Addiction%22_Lawsuit\"><\/span>Social Media Giants Settle Kentucky &quot;Addiction&quot; Lawsuit<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a significant legal development, Meta (<a href=\"\/stock\/META\">META<\/a>), Snap Inc. (<a href=\"\/stock\/SNAP\">SNAP<\/a>), TikTok, and Alphabet\u2019s (<a href=\"\/stock\/GOOGL\">GOOGL<\/a>) YouTube reached settlements totaling <strong>$27 million<\/strong> with the Breathitt County School District in Kentucky. The lawsuit alleged that the platforms\u2019 &quot;addictive designs&quot; contributed to a <strong>youth mental health crisis<\/strong>, forcing schools to divert resources toward counseling and behavioral intervention.<\/p>\n<p>Meta paid the largest share at <strong>$9 million<\/strong>, followed by <strong>$8 million<\/strong> each from Snap and TikTok, and <strong>$2.01 million<\/strong> from YouTube. While the settlements resolve this specific bellwether case, the companies still face over <strong>1,200 similar lawsuits<\/strong> nationwide. <em>Legal experts suggest these payouts could set a precedent for future &quot;social media harm&quot; litigation across the United States.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Global_Trade_and_Geopolitics_Cuba_and_Canada\"><\/span>Global Trade and Geopolitics: Cuba and Canada<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Tensions in the Caribbean saw a rare moment of dialogue as <strong>U.S. Southern Command<\/strong> officials met with the <strong>Cuban military<\/strong> at the Guantanamo Bay perimeter. Both delegations described the talks as &quot;positive,&quot; focusing on <strong>maritime safety and force protection<\/strong> during a period of heightened U.S. economic pressure on the island.<\/p>\n<p>Meanwhile, in North America, Chinese Foreign Minister Wang Yi suggested that <strong>Canada could double its exports to China<\/strong> by 2030. During a rare visit to Ottawa, Wang met with Prime Minister Mark Carney and Foreign Minister Anita Anand to discuss &quot;recalibrating&quot; the bilateral relationship. <em>The potential trade boost is seen as a strategic move by Canada to diversify its economy amid ongoing trade friction with the United States.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Mining_and_Corporate_Credit_Updates\"><\/span>Mining and Corporate Credit Updates<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the commodities sector, Monument Mining (<a href=\"\/stock\/MMY\">MMY<\/a>) reported strong drilling results from its <strong>Selinsing <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a> Mine<\/strong>, indicating significant expansion potential for its gold reserves. On the Gold Coast of Australia, an unusual <strong>beach erosion event<\/strong> has sparked a &quot;metal-detecting boom,&quot; with local hobbyists reportedly earning up to <strong>$1,000 a month<\/strong> by recovering lost jewelry and coins uncovered by shifting sands.<\/p>\n<p>Finally, <strong>Moody\u2019s Investors Service<\/strong> raised the credit rating of <strong>Molex<\/strong> to <strong>A3<\/strong>, moving the outlook to stable. The upgrade reflects the company&#39;s consistent cash flow and its successful integration of recent acquisitions in the high-growth <strong>EV and data center<\/strong> connector markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Coinbase (COIN) and Robinhood (HOOD) shares rallied following the CFTC&#39;s landmark approval of crypto perpetual futures in the 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