Dear PointPay Family,
Another week filled with news, events and changes is drawing to a close. To keep you in the loop, we have compiled for you the top 5 most outstanding news stories of the last few days.
Microsoft Warns of New Malware Targeting Crypto Wallets
Microsoft has identified a new Trojan, StilachiRAT, which is designed to steal sensitive data from cryptocurrency wallets within the Google Chrome browser. This malware compromises 20 wallet extensions, including MetaMask, Coinbase Wallet, and Trust Wallet, by extracting credentials and monitoring clipboard activity to capture private keys. With cyberattacks surging and $1.53 billion lost in February alone, Microsoft urges crypto users to stay vigilant against emerging threats.
Bitcoin Whale Profits $9.4M After Closing Massive Short Position
A Bitcoin whale secured nearly $10 million in profit after closing a $516 million short position with 40x leverage. The investor bet on Bitcoin’s price decline but managed to exit strategically after the latest US inflation report signaled optimism for the market. The short position, initially opened at $84,043, faced liquidation risk but ultimately paid off. This high-stakes trade highlights both the risks and rewards of leveraged positions in the volatile crypto market.
SEC to Hold Public Roundtables on Crypto Regulations
The US Securities and Exchange Commission (SEC) is launching a series of public discussions on cryptocurrency regulations, beginning March 21. Led by Commissioner Hester Peirce, the initiative aims to clarify the regulatory framework and define the security status of crypto assets. The first session, titled "How We Got Here and How We Get Out," will take place at the SEC’s Washington, D.C. headquarters and be streamed online. The task force encourages public input to help shape future regulatory policies.
Bitcoin Surges Toward $86K as Fed Confirms Rate Cut Plans
Bitcoin rallied to an intraday high of $85,950 following the Federal Reserve’s latest policy update. Fed Chair Jerome Powell confirmed that interest rates will remain unchanged, with two rate cuts expected in 2025. While the central bank maintained its cautious stance on inflation, traders viewed the announcement as a bullish signal. Alongside Bitcoin’s surge, the stock market also reacted positively, with the Dow gaining 400 points and the S&P 500 climbing 77 points.
Ripple Secures Key Victory as SEC Withdraws Appeal
The long-running SEC lawsuit against Ripple appears to be nearing its conclusion. Ripple CEO Brad Garlinghouse announced that the SEC is dropping its objection, calling it a major win for both Ripple and the broader crypto industry. The news has already impacted the market, with XRP’s price beginning to climb. This development could mark a significant turning point in regulatory clarity for digital assets.
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