Coinbase has launched the listing of DoubleZero (2Z) perpetual contracts following approval from the US Securities and Exchange Commission (SEC), leading to significant market volatility upon launch. The listing was possible after the SEC confirmed 2Z’s non-security status, easing regulatory uncertainty for the project. This move marks a crucial step for the high-performance DoubleZero network, which has drawn considerable interest from institutional investors who have invested $28 million in the project. The launch of 2Z perpetual contracts on Coinbase has led to substantial price fluctuations, with prices dropping 40–65% in the aftermath. This volatility was attributed to a surge in circulating supply following the listing. The financial implications of this event are still unfolding, but market observers are watching closely as Coinbase’s move could lead to similar listings for other infrastructure-related tokens. This landmark approval marks one of the first instances of a DePIN token receiving such regulatory clearance, potentially paving the way for future listings and impacting broader perceptions of regulated DePIN projects. The market waits for further developments on regulatory clarity, which could significantly influence the cryptocurrency ecosystem.