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Nine major European banks are creating a Netherlands-based company to launch a euro-backed stablecoin in 2026, aiming to counter U.S. dominance in the digital token market. Reuters reports: While global stablecoin issuance stands at nearly $300 billion, euro-denominated stablecoins totalled just $620 million, according to figures released last week by the Bank of Italy, with dollar-pegged tokens overwhelmingly dominant. "The initiative will provide a real European alternative to the U.S.-dominated stablecoin market, contributing to Europe's strategic autonomy in payments," the banks said. They launched the effort, which they said will create a token that can be used for quick, low-cost payments and settlements, even as the European Central Bank voices scepticism over stablecoins. ECB President Christine Lagarde in June told European policymakers that privately issued stablecoins posed risks for monetary policy and financial stability. As a safer alternative, she has urged European lawmakers to introduce legislation backing the launch of a digital version of the EU's single currency. Some commercial banks, however, have pushed back against the introduction of a digital euro, fearing that it would empty their coffers as customers transfer cash out of banks and into the safety of an ECB-guaranteed wallet. In addition to ING and UniCredit, the other banks participating in the new company include Banca Sella, KBC, DekaBank, Danske Bank, SEB, Caixabank, and Raiffeisen Bank International. They said that others could join the initiative, and a CEO for the company would be appointed soon. According to a recent report by Deutsche Bank, emerging market economies are adopting dollar-based stablecoins to replace local deposits and cash. "This has created a global monetary dilemma: countries should adopt stablecoins or risk being left behind. Europe is under particular pressure."

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Chipzilla seeks investment from its top fab frenemy

Intel has reportedly sought an investment from rival chipmaker TSMC.…

Spotify says it has has removed over 75 million fraudulent tracks in the past year as it works to combat "AI slop," deepfake impersonations, and spam uploads. Variety reports: Its new protections include a policy to police unauthorized vocal impersonation ("deepfakes") and fraudulent music uploaded to artists' official profiles; an enhanced spam filter to prevent mass uploads, duplicates, SEO hacks, artificially short tracks designed to fraudulently boost streaming numbers and payments. The company also says it's collaborating with industry partners to devise an industry standard in a song's credits to "clearly indicate where and how AI played a role in the creation of a track." "The pace of recent advances in generative AI technology has felt quick and at times unsettling, especially for creatives," the company writes in a just-published post on its official blog. "At its best, AI is unlocking incredible new ways for artists to create music and for listeners to discover it. At its worst, AI can be used by bad actors and content farms to confuse or deceive listeners, push 'slop' into the ecosystem, and interfere with authentic artists working to build their careers. The future of the music industry is being written, and we believe that aggressively protecting against the worst parts of Gen AI is essential to enabling its potential for artists and producers." In a press briefing on Wednesday, Spotify VP and Global Head of Music Product Charlie Hellman said, "I want to be clear about one thing: We're not here to punish artists for using AI authentically and responsibly. We hope that they will enable them to be more creative than ever. But we are here to stop the bad actors who are gaming the system. And we can only benefit from all that good side if we aggressively protect against the bad side."

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Doug Bowser, president of Nintendo of America since 2019, will retire at the end of 2025 after overseeing major expansions including theme parks, films, and the launch of the Switch 2. He will be succeeded by Devon Pritchard, while Satoru Shibata will also take on a CEO role at Nintendo of America. "One of my earliest video game experiences was playing the arcade version of Donkey Kong," Bowser said in a statement. "Since that time, all things Nintendo have continued to be a passion for both me and my family. Leading Nintendo of America has been the honor of a lifetime, and I am proud of what our team has accomplished in both business results and the experiences we've created for consumers." Pritchard said that "Doug has been a fantastic mentor" and that he looks forward to "building on the incredible foundation he has helped establish."

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An anonymous reader quotes a report from TechCrunch: A viral app called Neon, which offers to record your phone calls and pay you for the audio so it can sell that data to AI companies, has rapidly risen to the ranks of the top-five free iPhone apps since its launch last week. The app already has thousands of users and was downloaded 75,000 times yesterday alone, according to app intelligence provider Appfigures. Neon pitches itself as a way for users to make by providing call recordings that help train, improve, and test AI models. But now Neon has gone offline, at least for now, after a security flaw allowed anyone to access the phone numbers, call recordings, and transcripts of any other user, TechCrunch can now report. TechCrunch discovered the security flaw during a short test of the app on Thursday. We alerted the app's founder, Alex Kiam (who previously did not respond to a request for comment about the app), to the flaw soon after our discovery. Kiam told TechCrunch later Thursday that he took down the app's servers and began notifying users about pausing the app, but fell short of informing his users about the security lapse. The Neon app stopped functioning soon after we contacted Kiam. TechCrunch found that the app's backend services didn't properly restrict access, allowing any logged-in user to request and receive data belong to other users. This included call transcripts, raw call recordings, and sensitive metadata, including phone numbers, the date/time of calls, and their durations.

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You'll see the results next year, but it's not the end of Googly lappies

Video Google has confirmed it will merge its ChromeOS and Android operating systems, and that the mobile OS will emerge triumphant.…

Google has asked the U.S. Supreme Court to pause a judge's order requiring major changes to its Play Store after losing an antitrust case to Epic Games. The injunction would force Google to allow rival app stores, external billing links, and broader competition -- changes Google says could harm users and developers. Epic argues they're necessary to break Google's monopoly. Reuters reports: Google said it has urged the U.S. Supreme Court to halt key parts of a judge's order that would force major changes to its app store Play, as it prepares to appeal a decision in a lawsuit brought by "Fortnite" maker Epic Games. Google called the judge's order unprecedented, and said it would cause reputational harm, safety and security risks and put the company at a competitive disadvantage if allowed to take effect, according to a filing, opens new tab provided late on Wednesday by Google, which said it had submitted it to the court. [...] Google in its Supreme Court filing said that the changes will have enormous consequences for more than 100 million U.S. Android users and 500,000 developers. It asked the court to decide by October 17 whether to put the order on hold. Google said it plans to file its appeal to the Supreme Court by October 27, which could allow the justices to take up the case during their nine-month term that begins on October 6. Epic in a statement said Google is relying on what it called "flawed security claims" to justify its control over Android devices. "The court's injunction should go into effect as ordered so consumers and developers can benefit from competition, choices and lower prices," Epic said. The jury, siding with Epic in the trial, found that Google illegally stifled competition. Donato subsequently issued the order directing Google to make changes to its app store.

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