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<p>We're bringing you some important and interesting news updates on what happened in the world of cryptocurrencies in the last seven days.</p><p>The crypto market suffered a little in the first week of March, as the fear of regulatory pressure appears to be having an impact on volatility. Worthy of note is that the cryptocurrency markets experienced a relatively calm month in February, as the total market capitalization gained just 4% in the period.</p><p>Some factors that contributed to the weekly fall in crypto prices include FTX revealing the extent of the massive shortfall in the company's books, Michael Saylor's failure in his bid to get a tax evasion lawsuit dismissed, and fears about the financial condition of the crypto-friendly Silvergate bank, which served as a partner with several crypto firms.</p><h2 id="header-0">Coinbase plans to suspend Binance BUSD trading on its platform.</h2><p>Binance and BUSD continue to face difficult times as a result of the increasing regulatory scrutiny of stablecoin issuer Paxos. The U.S. Securities and Exchange Commission (SEC) allegedly delivered Paxos a Wells Notice over BUSD on February 13, saying that it classified BUSD as an unregistered security.</p><p>As a result, the American leading cryptocurrency exchange Coinbase revealed that it would suspend trading for Binance USD (BUSD) on March 13, 2023, at about 12 p.m. ET. This decision was reached after the New York State Department of Financial Services ordered Paxos to stop issuing stablecoin pegged to the US dollar.</p><p>Coinbase indicated that they constantly checked to see if the assets on the exchange complied with the listing requirements and that they have now come to the conclusion that BUSD does not.</p><h2 id="header-1">United States legislators want to see Binance’s balance sheet</h2><p>In a letter to Binance CEO Changpeng "CZ" Zhao and Binance US CEO Brian Shroder, three US senators, spearheaded by Elizabeth Warren, voiced worry over a number of aspects of Binance's operations, and asked the firms for details, including their financial statements.</p><p>All Binance and Binance subsidiary balance sheets from 2017 to the present are at the top of the list. Also, they need copies of anti-money laundering and related regulations, proof of the connection between Binance and Binance.US, and other details, as well as an explanation of various press stories. The organizations have two weeks to reply to the letter.</p><h2 id="header-2">Troubled crypto lender Celsius opens withdrawals for some "custody clients."</h2><p>Several consumers were happy to be able to eventually remove their assets from the failing firm after keeping them in Celsius' custody accounts.</p><p>Users who had money in custody accounts, which were exclusively open to Americans, were reportedly able to withdraw 94% of their initial deposits. Now, customers who moved money from earn or borrow accounts to custodial accounts are able to withdraw 72.5 percent of their money.</p><p>Celsius froze all network transactions and transfers when it declared bankruptcy in July 2022, owing its clients $4.7 billion. It was first attributed to "extreme market conditions" brought on by Terra's collapse.</p><p>While some customers who had whitelisted wallets before attempting a withdrawal said they had received their money in a matter of minutes, others reported prolonged delays. This suggests congestion with withdrawal requests on the platform.</p><h2 id="header-3">Several crypto companies cut ties with the crypto-friendly Silvergate Bank</h2><p>Several big names in the cryptocurrency industry are keeping their distance from Silvergate after the crypto-friendly bank postponed submitting its annual 10-K report to the Securities and Exchange Commission (SEC).</p><p>MicroStrategy, Tether, Coinbase, Paxos, Galaxy Digital, Gemini, BitStamp, Crypto.com, and Circle are a few of the crypto firms that severed connections with Silvergate. However, some of them said they didn’t have exposure to it in the first place.</p><p>Silvergate recorded a net loss of $1 billion in Q4 2022 as a result of the unexpected collapse of FTX in November, which raised questions about the company’s possible financial difficulties. All these fears have sent the company’s stock price down almost 60% over the past 5 days.</p><h2 id="header-4">The Securities and Exchange Commission subpoenaed Robinhood over Brokerage's cryptocurrency business</h2><p>The Securities and Exchange Commission has <a href="https://www.bloomberg.com/news/articles/2023-02-27/robinhood-subpoenaed-by-sec-over-brokerage-s-crypto-business#xj4y7vzkg" rel="noopener noreferrer nofollow">revealed </a>that it is looking into Robinhood Markets Inc.'s cryptocurrency business, the latest sign that the government is looking at virtual asset platforms more closely.</p><p>According to a filing from Menlo Park, California-based Robinhood, the brokerage received an investigation subpoena in December pertaining to its cryptocurrency listings and custody, among other things. The SEC investigation began immediately after the bankruptcy filing of the cryptocurrency exchange FTX, which sparked a wave of digital assets regulatory action worldwide.</p><h2 id="header-5">UniSwap to launch a non-custodial wallet</h2><p>Users would be able to swap on layer-1 or layer-2 networks without having to transfer blockchains, <a href="https://uniswap.org/blog/uniswap-mobile-wallet-early-access" rel="noopener noreferrer nofollow">according </a>to Uniswap Labs' announcement of intentions to launch a new self-custodial mobile wallet.</p><p>This upcoming wallet, according to the well-known Ethereum-based decentralized exchange, will let users perform actions like trade tokens directly, switch between Mainnet, Polygon, Arbitrum, and Optimism without a hitch, find the top tokens by market cap, price charts, and volume, and keep track of your favorite tokens and wallet addresses to stay up to date on trends and activity.</p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/4aa0eaac2fcc414aa1c277b3039c9170.png"><h2 id="header-6">NEW PROJECT LISTINGS ON MELEGASWAP</h2><h3 id="a-href-https-www-sweepproject-com-rel-noopener-noreferrer-nofollow-sweeptoken-sweep-a"><a href="https://www.sweepproject.com/" rel="noopener noreferrer nofollow">Sweeptoken (SWEEP)</a></h3><p>Sweep Project is on a mission is to bring awareness to the BNB Chain NFT Collections. Built for the community, Sweep will raise floors and give BNB NFTs the recognition they deserve.</p><h3 id="a-href-https-hancoin-finance-rel-noopener-noreferrer-nofollow-hancoin-diga-a"><a href="https://hancoin.finance/" rel="noopener noreferrer nofollow">Hancoin (DIGA)</a></h3><p>Hancoin is a charity association newly established after several good years of volunteering. They aim to support and develop children from disadvantaged backgrounds, actively involving themselves in education, culture, sports, and other aspects.</p><h3 id="a-href-https-www-whexcosystem-com-rel-noopener-noreferrer-nofollow-whexcosystem-dao-whexdao-a"><a href="https://www.whexcosystem.com/" rel="noopener noreferrer nofollow">WHEXcosystem DAO (WHEXDAO)</a></h3><p>WHEXDAO token was created on May 12, 2022, and it is used to make decisions on the future of the WHEXcosystem via blockchain vote.</p><p><em><strong>Risk warning:</strong> Cryptocurrency investment or trading is subject to high market risk. Hence, you might lose your money in the process. Please do adequate research and plan your investments cautiously. We at MelegaSwap will always make the best efforts to list high-quality and potential coins, but we will not be responsible for your losses.</em></p><h2 id="header-7">Trade with the best decentralized AMM cryptocurrency exchange</h2><p><em>Do you want to buy, sell, and invest in cryptocurrencies and still have 100% control over your crypto assets? If yes, then Melega Finance is for you. <strong>MelegaSwap</strong> is a leading automated market maker (AMM) decentralized exchange that provides users with a variety of options to trade and earn free tokens at extraordinarily high-interest rates and low charges.</em></p><p><em>At Melega, nobody manages your funds for you because you manage them directly from your personal wallet, while smart contracts transparently take care of everything else.</em></p><p><strong>Learn More About the Melega Ecosystem</strong></p><p>Website: <a href="https://melegaswap.finance/" rel="noopener noreferrer nofollow">https://melegaswap.finance</a></p><p>Telegram: <a href="https://t.me/melegacommunity" rel="noopener noreferrer nofollow">https://t.me/melegacommunity</a></p><p>Twitter: <a href="https://twitter.com/meleganza" rel="noopener noreferrer nofollow">https://twitter.com/meleganza</a></p><p>Instagram: <a href="https://www.instagram.com/melega.finance/" rel="noopener noreferrer nofollow">https://www.instagram.com/melega.finance/</a></p><p>YouTube: <a href="https://www.youtube.com/channel/UC_kjHoXOkPSSB4HeHNZMq-Q" rel="noopener noreferrer nofollow">Melega Finance Official </a></p><p>DAPP: <a href="https://melega.finance/" rel="noopener noreferrer nofollow">https://melega.finance/</a></p><p>Crypto Services Hub: <a href="https://melega.space/" rel="noopener noreferrer nofollow">https://melega.space/</a></p>

Feb. 26-Mar. 4 Crypto Weekly Recap: Celsius Opens Withdrawal, Coinbase Delists BUSD, Firms Ditch Silvergate

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