Today in crypto, a new report from Fireblocks shows 90% of institutional players are using or plan to use stablecoins, with banks prioritizing cross-border payments and speed as key benefits, the US Department of Justice (DOJ) added another 12 people to its list of defendants suspected of being involved in a major US crypto racketeering ring, and Coinbase has fired a group of contracted customer support agents allegedly involved in insider phishing attacks that could cost the company up to $400 million.90% of institutions “taking action” on stablecoinsA report from enterprise-grade digital assets platform Fireblocks shows that 90% of institutional players are using or exploring the use of stablecoins in their operations.
Source: SymbioteMany of the suspects, with aliases like “Goth Ferrrari” and “The Accountant,” come from California, mostly aged between 18 and 22. The group allegedly began operating in October 2023, evolving from friends while playing online games to what the DOJ describes as participating in a “cyber-enabled racketeering conspiracy.”Coinbase fires compromised agents in India — ReportCoinbase has reportedly fired a group of customer support agents following their alleged involvement in social engineering attacks on users.
Source: FireblocksAs traditional cross-border systems are hampered by higher costs, delays and other inefficiencies, stablecoins have emerged as a strategic solution in emerging markets’ business-to-business (B2B) settings. The report found that financial institutions, particularly traditional banks, cited cross-border payments as a top priority for using stablecoins.
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Author / Journalist: Cointelegraph by Cointelegraph
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