Today in crypto, stablecoin adoption in Europe is shifting from strategy to execution, push notifications can create a backdoor, breaching user privacy, says Durov. Meanwhile, WLFI fell to a record low after it was revealed that the project used its own tokens as collateral to take a loan.
Banks, corporates in Europe ‘actively selecting partners’ for stablecoin push
Banks and corporates across Europe are moving beyond exploration and are now actively selecting infrastructure partners to support stablecoin adoption, according to Lamine Brahimi, co-founder and managing partner at crypto custody technology provider Taurus.
Brahimi told Cointelegraph that eighteen months ago, most conversations were still educational, focused on understanding stablecoins and their risks. Today, firms with board-level approval are preparing to go live. He said the introduction of Markets in Crypto-Assets Regulation (MiCA) has accelerated that transition by replacing fragmented national rules with a single regulatory regime.
“In the past twelve months alone some of Europe's most stringent financial institutions are all arriving at the same conclusion, digital assets, including stablecoins, belong inside the existing banking stack, not beside it,” he said.
Corporate treasury teams are driving much of the demand. Initially focused on payments and settlement, companies are looking to use stablecoins to move funds faster, reduce costs and operate outside traditional banking hours, Brahimi said.
Pavel Durov warns push notifications could compromise privacy
Pavel Durov, co-founder of the Telegram messaging application, sounded the alarm on data stored in push notification logs on users’ devices, which could be used to breach privacy and gain access to message histories.
Durov cited recent reports that forensic analysts at the US Federal Bureau of Investigation (FBI) were able to retrieve messages sent on the privacy-preserving messaging application Signal by accessing push notification system logs on an Apple iPhone. Durov said:
“Turning off notification previews won’t make you safe if you use those applications, because you never know whether the people you message have done the same.”
The incident shows that online user privacy can still be compromised, despite end-to-end encryption, if applications generate metadata and other information that can circumvent privacy-preserving features.
Trump-linked WLFI hits new low as token-backed loan triggers concern
WLFI, the native token of the Donald Trump–backed World Liberty Financial platform, sank to an all-time low on Saturday as crypto users expressed concerns after revelations that the project used a large amount of its own tokens to take out loans.
The token hit a new low of around $0.07714 on Saturday, down 83% from its peak of $0.46 reached last September, according to data from CoinMarketCap. WLFI is currently at $0.07879, down by 4.66% over the past day.
The downturn came after it was revealed that wallets linked to World Liberty Financial deployed substantial WLFI holdings as collateral on Dolomite, a decentralized lending platform co-founded by the project’s chief technology officer, Corey Caplan.
Onchain data from Arkham shows that a wallet linked to World Liberty Financial deposited around 5 billion WLFI tokens on Dolomite. The wallet then used the tokens as collateral to borrow $75 million in USD1 and USDC (USDC) stablecoins, later transferring more than $40 million to Coinbase Prime.
