Stablecoins Drive Volatility in Brazilian Capital Flows, Warns Central Bank

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Brazil’s central bank has raised concerns over the increasing use of U.S. dollar-backed stablecoins, warning they are fueling volatility in the country’s capital flows. According to Deputy Governor Renato Gomes, this trend is largely due to the way stablecoins enable the transfer of money abroad without passing through traditional financial channels.

Speaking at a monetary policy event hosted by the OMFIF think tank in London, Gomes explained that around 90% of Brazil’s recent crypto asset activity is tied to stablecoins, which are pegged to major currencies like the U.S. dollar. He emphasized that while this innovation has benefits, it also poses risks.

“One of the worrisome issues is that they offer a bypass instance,” Gomes stated. “You can get the stablecoins, and when you get to the United States or anywhere else, you can cash out and use an account in dollars, avoiding normal regulations.”

This method is becoming increasingly popular for remittances, with some U.S. ATMs now allowing direct withdrawals in dollars from stablecoin wallets. The result, according to Gomes, is a more erratic movement of capital, as stablecoins allow almost anyone to transfer funds internationally with little oversight.

He also pointed to regulatory gaps, noting that Brazil’s largest real-backed stablecoin issuer is headquartered in Switzerland. “We don’t have reach on these issuers,” Gomes said, stressing the need for international collaboration to effectively regulate the stablecoin sector.

Brazil’s central bank continues to monitor the issue closely as it explores new ways to safeguard the stability of its financial system in the face of fast-moving digital innovations.

Pinterest Shares Soar 11% as Strong Ad Spend, AI Strategy Offset Tariff Uncertainty

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Pinterest (PINS) surged more than 11% on Friday, adding nearly $2 billion to its market capitalization, as investors welcomed a stronger-than-expected revenue forecast that defied broader concerns about advertising pullbacks amid geopolitical and trade volatility.

The visual discovery platform joins Reddit and Meta in delivering upbeat revenue figures for the quarter, at a time when U.S. trade policy shifts and rising global tensions have cast doubt over the marketing budgets of many digital firms.

Despite these headwinds, Pinterest’s AI-powered ad tools and expanding Gen Z user base are proving to be effective growth levers. Analysts praised the platform’s focus on delivering personalized and performance-driven ads, boosting advertiser confidence.

“AI is helping to serve up the right type of ads for different audience segments,” said Dan Coatsworth of AJ Bell. “There’s a greater propensity to click when the ad feels relevant.”

Key Metrics:

  • Global Monthly Active Users (MAUs): Up 10% YoY to 570 million, beating LSEG analyst estimates.

  • Forward P/E Ratio: Pinterest trades at 14.51x, more attractive compared to Reddit (67.65x) and Snap (22.19x).

While Asian e-commerce advertisers such as Temu and Shein pulled back spending due to the rollback of the “de minimis” import exemption, Pinterest’s international diversification and AI enhancements helped mitigate the impact.

“Pinterest’s strategic focus on AI improvements and international expansion is yielding results,” said Angelo Zino, senior equity analyst at CFRA.

Still, Barclays analysts cautioned that e-commerce ad trends could worsen later in the year if tariffs begin to directly hit consumer spending. Yet for now, Pinterest is outpacing competitors in converting ad impressions into meaningful business performance.

Pinterest’s stock performance and relatively modest valuation suggest it may be one of the more resilient digital ad plays as global marketing strategies adapt to economic uncertainty.

Star Health Hacker Claims Responsibility for Death Threats and Bullet Packages Sent to Executives

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The hacker known as “xenZen”, who last year leaked sensitive data from Star Health and Allied Insurance Company—India’s largest health insurer—has claimed responsibility for sending death threats and bullet cartridges to the company’s top executives, according to a March 31 email obtained by Reuters.

In a chilling escalation, xenZen said the threats were a direct reprisal for the insurer’s alleged denial of medical claims to customers. The packages, reportedly sent in February to Star Health’s headquarters in Chennai, Tamil Nadu, were addressed to CEO Anand Roy and CFO Nilesh Kambli. Inside, a note warned:

“next one will go in ur and ur peoples head. tik tik tik.”

Reuters reviewed photographs included in the hacker’s email that appear to show the threatening packages. While the news agency has not independently verified the hacker’s identity or the full accuracy of the information provided, three Indian police sources confirmed that a criminal investigation is underway. According to one source, a man in the neighboring state of Telangana has been arrested for allegedly facilitating the delivery of the packages.

Star Health declined to comment in detail, citing an “ongoing, highly sensitive criminal investigation.” CFO Kambli directed inquiries to the company’s PR team, and CEO Roy did not respond to calls for comment.

The case adds to growing concerns over executive security in the healthcare industry, especially after the murder of UnitedHealthcare CEO Brian Thompson in December — an incident that reportedly inspired xenZen’s threats.

Last year, the hacker leaked what they claimed was 7.24 terabytes of personal data related to over 31 million customers, including medical reports and insurance details. Star Health confirmed the data breach, which followed a ransom demand of $68,000. The company has since launched legal action against xenZen and Telegram, which was used to distribute the stolen data via chatbots. Those bots have since been removed.

In the latest email, xenZen claimed the threats followed requests from disgruntled customers who alleged their valid claims had been denied despite having coverage. Star Health has not responded to these specific allegations.

As the case unfolds, the incident raises urgent questions about data security, corporate accountability, and the physical safety of executives in an era where cyberattacks increasingly blur into real-world consequences.