Coinbase News: Xapo Bank Reintroduces Bitcoin-Backed Loans Amid Crypto Lending Revival

In a significant development in the cryptocurrency space, Xapo Bank, a prominent wealth manager for long-term Bitcoin holders, has announced the reintroduction of BTC-backed loans, with a maximum limit of $1 million. This move comes amidst a broader trend of crypto-backed loans making a comeback, following a period marked by collapses and bankruptcies in the crypto lending industry.

Xapo Bank Introduces Bitcoin-Backed Loans up to $1M

Xapo Bank, a wealth manager for long-term holders of bitcoin, has announced the offer of BTC-backed loans up to $1 million to its members. This move comes after a series of collapses and bankruptcies in the crypto lending industry, but crypto-backed loans are making a comeback. U.S.-listed exchange Coinbase also reintroduced bitcoin-backed loans in January 2024. Xapo CEO Seamus Rocca emphasized the difference between the company’s wealth-management service and exchanges’ trading-oriented offerings, stating that exchanges offering secured lending usually encourage leverage.

Microsoft Raises Alarm of Malware Targeting Crypto Wallets

Microsoft has shared a report warning of malware targeting 20 of the most popular cryptocurrency wallets used with the Google Chrome extension. The malware, named StilachiRAT, is a remote access trojan (RAT) capable of deploying sophisticated techniques to evade detection, persist in the target environment, and exfiltrate sensitive data. It was discovered in November 2024 and can steal users’ wallet information and credentials stored in their Google Chrome browser. Some of the wallets targeted include MetaMask, Coinbase Wallet, Phantom, OKX Wallet, and BNB Chain Wallet.