Billionaire hedge fund investor Stanley Druckenmiller has invested in tradeXYZ, a trading platform partnering with Intercontinental Exchange (ICE) to introduce high-risk, crypto-style perpetual futures contracts to regulated US markets, according to a report by the Financial Times.

The partnership aims to bring round-the-clock trading in leveraged derivatives linked to equities, cryptocurrencies and other assets into the US regulatory framework. Unlike traditional futures, perpetual contracts have no expiry date and allow investors to maintain leveraged positions with relatively small capital commitments.

Druckenmiller, who runs family office Duquesne Capital and previously managed George Soros's Quantum Fund, confirmed his investment in tradeXYZ, which also maintains a partnership with offshore crypto derivatives exchange Hyperliquid. Financial details of his backing were not disclosed.

The initiative comes amid growing competition between established derivatives exchanges and newer trading platforms offering continuous market access. The Commodity Futures Trading Commission has permitted several operators to introduce perpetual contracts this year, although the regulatory changes have faced legal challenges from CME Group.

While proponents argue that perpetual futures offer greater trading flexibility and liquidity, critics have warned that their high leverage could amplify losses and increase systemic risks, particularly among retail investors.

Druckenmiller's investment highlights growing interest among prominent hedge fund investors in alternative trading infrastructure, as cryptocurrency-derived products increasingly move into mainstream financial markets.