Weekly Preview | Gemini to Cease Operations in the UK; Federal Reserve Releases Economic Beige Book

News Preview:

• Bitway (BTW) will start circulating on March 2, supporting trading on Binance Alpha;
• MANTRA Chain plans to upgrade to v7.0.0 on March 3;
• Gemini will cease operations in the UK, with customer accounts only able to withdraw starting March 5;
• Co-founder of HyperLiquid: 173,000 HYPE tokens will be unstaked and distributed to team members on March 6;
• RedStone (RED) will unlock approximately 40.85 million tokens at midnight Beijing time on March 7, accounting for 16.13% of current circulation, worth about $6.2 million

March 2

Macroeconomics:

March 2, 22:45, US releases February S&P Global Manufacturing PMI Final;
March 2, 23:00, releases February ISM Manufacturing PMI

Exchanges:

Binance: Bitway (BTW) tokens will start trading at 16:00 on March 2

Bitway (BTW) tokens will be available for trading from 16:00 (UTC+8) on March 2, 2026.

Project Updates:

ZEROBASE staking feature will be upgraded on March 2 to improve performance and service stability

ZEROBASE, a zero-knowledge proof infrastructure project, announced via Twitter that its staking feature will be upgraded from 23:00 to 1:00 on March 2 to enhance performance and stability. During this period, ZEROBASE frontend services will be temporarily suspended, but all smart contracts will continue to operate fully on-chain.

Token Unlocks:

Ethena (ENA) will unlock approximately 40.63 million tokens at 3 PM Beijing time on March 2, representing 0.53% of current circulation, worth about $4.3 million.

March 3

Exchanges:

Upbit will delist GoChain (GO) on March 3

Upbit will delist GoChain (GO) on March 3. After evaluation, Upbit confirmed that GO has several deficiencies in trading support and adoption under the virtual asset trading support framework, which could lead to user losses.

Project Updates:

MANTRA Chain plans to upgrade to v7.0.0 on March 3

MANTRA Chain plans to upgrade to v7.0.0 at block height 13,000,000 (expected March 3, 2026). This upgrade will implement the community-approved Proposal #25, renaming the native token from $OM to $MANTRA, and performing a 1:4 non-dilutive token split, increasing max supply from 2.5 billion to 10 billion while maintaining economic value.

Post-upgrade, the token symbol changes from OM to MANTRA, the base unit from uom to amantra, and decimal places from 6 (micro) to 18 (attos). Chain ID, FDV, market cap, staking weight, governance weight, and other parameters remain unchanged. All balances, parameters, and rewards will be automatically migrated proportionally without manual action from holders, stakers, or delegates. Funds in IBC custody accounts will be migrated back to the target chain after transfer.

Rayls will launch RLS pre-staking lock on March 3, mainnet launching in Q3 2026

Rayls will initiate RLS pre-staking lock at 21:00 UTC on March 3, preparing for mainnet launch in Q3 2026. Participants in pre-staking can earn up to 50% APY in the first 3 months after mainnet launch, with expected yields around 20% thereafter. Rewards are settled monthly. The total cap for this lock-up is 100 million RLS, with a minimum participation of 100,000 RLS, on a first-come, first-served basis. Locked tokens will remain until mainnet launch, with no early withdrawal. After launch, users must complete “withdraw, cross-chain to Rayls mainnet, and delegate on dashboard” steps to activate rewards.

SolCex announces mobile app launch on March 3

Solana-based centralized exchange SolCex announced its mobile app will launch on March 3.

DeFi derivatives protocol Polynomial will cease blockchain operations on March 3

Polynomial announced via Twitter that it has stopped operations since February 14 and is winding down. Polynomial Chain and Polynomial Trade will shut down, with forced liquidation on February 18, liquidity layer closing on February 24, and chain shutdown on March 3.

Polynomial also canceled its planned Q1 TGE, citing reluctance to issue tokens for a product nearing end-of-life. Participant data will be retained, and early supporters will have priority access to new products. The team emphasized that liquidity, not technology, is the moat of derivatives markets, but Polynomial lacks liquidity, with TVL peaking at only $8 million. The new company will still be related to derivatives.

March 4

Exchanges:

Binance, Bybit, and OKX will support OM and MANTRA token swaps, with spot trading of new tokens opening on March 4

Binance, Bybit, and OKX announced plans for OM to MANTRA token swaps, with old tokens exchanged at a 1:4 ratio for new MANTRA tokens. Spot trading of the new tokens will open on March 4.

Project Updates:

Kraken’s L2 Ink opens Echo program registration, deadline March 4

Kraken’s L2 Ink is collecting registrations for the Echo program. Early tool or project builders can submit entries. Submissions will be reviewed by the team and ecosystem advisors. Selected contributors may receive stablecoin rewards, builder points, public recognition on Ink’s social media, and invitations to private builder syncs and early access to future programs. Deadline for submissions is March 4.

March 5

Macroeconomics:

March 5, 03:00, US Federal Reserve releases Beige Book

Policy & Regulation:

US Senators send letter to Bessent, requesting assessment of UAE company’s investment in World Liberty Financial, response due by March 5

Senators Elizabeth Warren and Andy Kim sent a letter to Treasury Secretary Janet Yellen, requesting an assessment of whether the Committee on Foreign Investment in the United States (CFIUS) should review the $500 million investment by a UAE company in World Liberty Financial. They asked for a response by March 5. The House began investigating Trump-linked crypto firm World Liberty Financial and its USD-pegged tokens, with Rep. Ro Khanna demanding ownership records, payment details, and internal communications.

Exchanges:

Gemini will cease UK operations, accounts only withdrawable from March 5

Gemini announced it will terminate operations in the UK. Starting March 5, 2026, all UK customer accounts will be in withdrawal-only mode.

Project Updates:

idOS tokens will be auctioned via Tally and go live on March 5

Web3 identity layer idOS will launch its IDOS token on March 5. Tokens will be auctioned via Tally using the Uniswap CCA mechanism. The event runs from February 25 to March 5, with distribution after the auction ends. The first phase lasts 2 days (discounted price, minimum purchase, linear unlock), the second phase lasts 6 days (standard price, any purchase amount, full unlock on TDE). Details will be announced soon. All phases are open to all users (KYC required).

March 6

Project Updates:

HyperLiquid co-founder: 173,000 HYPE tokens will be unstaked and distributed to team on March 6

Hyperliquid co-founder Iliensinc announced that 173,000 HYPE tokens from HyperLiquid Labs were unstaked on February 25 and will be distributed to team members on March 6, valued at about $5.4 million.

Token Unlocks:

HyperLiquid (HYPE) will unlock approximately 173,000 tokens at 8:00 AM Beijing time on March 6, representing 0.04% of current circulation, worth about $5.4 million.

March 7

Token Unlocks:

RedStone (RED) will unlock about 40.85 million tokens at midnight Beijing time on March 7, accounting for 16.13% of current circulation, worth about $6.2 million;
Optimism (OP) will unlock about 19.5 million tokens at 8:00 AM Beijing time on March 7, representing 0.98% of current circulation, worth about $2.4 million.

March 8

No updates.