According to the source, CFTC Acting Chair Caroline Pham confirmed efforts to bring leveraged spot crypto trading to U.S. exchanges could launch as soon as next month. Any leveraged retail spot offering in the U.S. would fall under CFTC oversight via Commodity Exchange Act Section 2(c)(2)(D) covering leveraged retail commodity transactions, requiring compliance with CFTC rules on margin, disclosures, and delivery, according to the CFTC. Exchanges aiming to offer leveraged spot would generally need to submit rule or product filings under CFTC Part 40 and interface with registered futures commission merchants for customer margin custody and risk management, according to the CFTC. Traders should track CME BTC and ETH futures basis and U.S.-offshore spot spreads for early signals of liquidity shifts if regulated U.S. leverage goes live, as CME BTC and ETH futures are widely used by U.S. institutions for price discovery and hedging, according to CME Group. Market participants should also monitor CFTC announcements, exchange status updates as designated contract markets or swap execution facilities, and leverage ratio and liquidation risk disclosures that could affect trading costs and volatility, according to the CFTC.

According to @PANewsCN, Binance.US rejected claims of political favoritism and defended listing USD1 from World Liberty Financial as a standard commercial decision communicated on X. source: @PANewsCN. Binance.US stated that USD1 and WLFI had previously passed its internal listing committee review and that both assets are listed on more than 20 U.S. exchanges, including Coinbase, Robinhood, and Kraken. source: @PANewsCN. The response followed Sen. Chris Murphy’s allegation that the USD1 listing was a quid pro quo for Donald Trump’s recent pardon of Binance founder Changpeng Zhao, which the exchange denied. source: @PANewsCN. For traders, Binance.US’s statement about 20+ U.S. venue availability signals wide market access for USD1 and WLFI that can be referenced when planning execution routes. source: @PANewsCN.

According to paulgrewal.eth, recent legal developments show that the SEC and five U.S. states have dismissed staking-related cases against Coinbase, indicating a more favorable regulatory environment for crypto staking platforms. This shift reduces immediate legal risks for Coinbase and similar exchanges, potentially supporting positive sentiment and higher trading volumes among staking tokens. Traders should monitor further regulatory actions as these dismissals could influence short-term and long-term price trends in the crypto market (source: @iampaulgrewal, April 25, 2025).