Binance, a cryptocurrency exchange, is taking measures to increase liquidity in the market, which has been negatively affecting Bitcoin and Ethereum prices. To achieve this, Binance is launching additional BTCUSDT and ETHUSDT daily options from May 15, which will increase trading and liquidity.

Cointime News: According to an official tweet from Binance, the exchange has announced its voluntary withdrawal from the Canadian market. The statement reads as follows:

Binance.US, the US-regulated branch of Binance, is reportedly looking for ways to reduce the stake of its founder, Changpeng Zhao, in the company. This move is being made due to concerns over regulatory crackdowns on Zhao's international business empire. CZ has been attempting to sell at least a part of his stake in Binance.US since last summer, according to sources. Binance.US' senior management believes that reducing CZ's ownership stake would make US regulators view the company more favorably, particularly in light of the ongoing crackdown on the crypto industry in the country.

Binance, which is known as the largest crypto exchange in the world, has been experiencing a decline in its market share for spot trading. Meanwhile, other exchanges such as OKX, Huobi, and Bybit have been gaining market share. The regulatory scrutiny and actions by US regulators against Binance have become a major concern for its users, and a potential enforcement action by the SEC could be devastating for the exchange and the market. Binance's CEO is planning to reduce his shareholding in the Binance.US crypto exchange to reduce the impact on its US arm amid a targeted attack against Binance. The Securities and Exchange Commission has issued warnings to Binance, Huobi, and OKX.

Binance has followed through on its plans to discontinue trading for XRP leveraged tokens, specifically XRPUP and XRPDOWN, as of May 12th. The exchange had previously announced the delisting and urged customers to trade their tokens for other assets. Any customers still holding these tokens can redeem them for USDT through the dedicated Leveraged Tokens page or wallet function. This move is part of a larger trend of Binance delisting leveraged tokens, with twenty being delisted in February and six in May. Leveraged tokens are designed to amplify gains or losses in a trade, with XRPUP multiplying returns when XRP goes up and XRPDOWN multiplying returns when XRP goes down.

Noah Perlman, the chief compliance officer at Binance, is faced with the challenging task of restoring the reputation of the world's largest crypto exchange with regulators.

Binance CEO Changpeng Zhao has expressed his positive outlook on the price of Ethereum, citing the record high amount of ETH locked on the Beacon Chain. However, the current ETH price is trading below $1,850 and could potentially fall to $1,500 if it breaks the crucial support level.

Binance's Chief Strategy Officer Patrick Hillman criticized the confusing enforcement of crypto regulations in the US and called for clearer rules similar to those in Europe. Hillman suggested that US regulators should learn from the European Union's comprehensive Markets in Crypto Assets (MiCA) regulatory framework, which has been praised by Binance CEO Changpeng Zhao. Despite the UK's exit from the EU, Hillman expressed Binance's interest in becoming regulated under UK law. This comes after Coinbase CEO Brian Armstrong also floated the idea of relocating operations abroad to avoid regulatory uncertainty in the US.

Despite Bitcoin reducing its waitlisted transaction orders, network congestion remains high with median confirmation time hovering above ten minutes. The on-chain metric for Bitcoin network fulfillment is at a high unseen since Feb 2023 and Dec 2022, with hundreds of thousands of transactions waiting to be confirmed.

Binance has announced that it will reduce the processing time for ETH Staking withdrawal requests from 15 days to just five days, starting from May 18, 2023. This move is expected to increase user satisfaction and adoption of ETH Staking. However, it remains to be seen whether the staked Ethereum withdrawals will push more selling pressure on the ETH price. Binance also plans to further reduce the processing time to better serve users, subject to change based on network demand. This move could result in more liquidity in the market and potentially drive up the price of ETH.