US regulators are not happy with Binance US's decision to buy Voyager
The SEC (the Securities and Exchange Commission) and the New York financial regulator said the deal could violate laws on unregistered offering and selling securities. The SEC also fears that the agreement can put clients' wallets at risk, which they obviously don't want to happen. Overall, the planned transaction is estimated at $1 billion but may never be completed.
Mastercard collaboration
Some good news came from Mastercard, where the collaboration between this financial giant and web3 tech company Immersve will offer a new option for paying physical and digital purchases using crypto assets. So, New Zealand and Australian consumers can use digital currencies directly from their web3 wallets to pay for goods and services in shops that support Mastercard.
Base Protocol token (BASE) soared by 250%
One more success story: Base Protocol token (BASE) soared by 250% despite no affiliation with Coinbase. It reached a high of nearly $7.50 after months of price stagnation below $1. Although, some say that a misunderstanding may have caused the spike.
Solana has experienced technical problems
This weekend the Solana blockchain experienced problems that caused the network to stand up for several hours. Blockchain developers are trying to find out what exactly caused the problem and promise to tell everyone as soon as they find out. Such things have already happened before since Solana launched in 2020.
Source: Twitter
The problem was that the validation nodes that help the blockchain operation went into "secure mode," which does not allow any new transactions to go through. It happened because there was insufficient information to ensure the transactions were valid. Without the help of other people, it was impossible to fix the problem, so the decision was made to restart the network. Such a problem already occurred in October 2022.
Source: Bloomberg.com
Thankfully, no user transactions were lost during the restart, and the Solana blockchain is now running again. The price of the Solana cryptocurrency has risen by about 2% since the restart and is trading at $23.20 now.
However, many community members were far from happy and expressed their thoughts on Twitter, some even questioning Solana to be on the list of top cryptocurrencies.
Coinbase will stop trading Binance USD from March 13th
The reason for that is non-compliance with listing standards. Based on internal monitoring and verification processes, Coinbase, North America's largest crypto exchange, has decided to suspend the listing.
Two weeks ago, Paxos said it would "end its relationship with Binance" due to regulatory action from the New York Department of Financial Services.
The SEC recently stated that Binance USD is an unregistered security, and it is violating the law. At the same time, Coinbase noted that the possibility of withdrawing funds in BUSD remains, as well as access to the asset on the balance sheet.
