[georgeek]

It depends on the type of derivatives. Consider commodity products: basic materials such as iron ore or coal or softs such as cocoa or wheat. Their (spot) prices used to be extremely volatile. Coincidentally, one of the first big economic crisis was caused by a pump and dump scheme in tulip seeds: https://en.wikipedia.org/wiki/Tulip_mania

In this case, futures contracts for those commodity have helped tremendously lower the volatility and make everybody more responsible. It's a good question if the same is going to happen with futures contracts for crypto

[verroq]

There is also the onion futures fiasco which provides some empirical evidence.

https://en.wikipedia.org/wiki/Onion_Futures_Act