Techmeme: The UK, which launched open banking in 2018, is seeing its fintech sector struggle to make open banking-powered payments a viable alternative to card payments (Akila Quinio/Financial Times)

Top News

The European Commission says it is investigating Pornhub, Stripchat, XNXX, and XVideos for potential child safety DSA violations “as a matter of priority” — New rules compel large online platforms to do more to protect users from harmful illegal content

More: Agence France-Presse, Reuters, Euractiv, European Commission, and Financial Times

Jose Antonio Lanz / Decrypt:

Researcher: factoring 2048 bit RSA integers could be done with ~20x fewer noisy qubits than previously estimated, though still far beyond current quantum tech — Google just dropped a new research paper, and Bitcoin maxis may want to do some quick math. The tech giant's quantum team found …

More: CoinDesk, The Baltimore Banner, Bitcoinist.com, Google Online Security Blog, Benzinga, Cryptopolitan, BeInCrypto, COINOTAG NEWS, Cointelegraph, TechSpot, CSO, Motley Fool, and TipRanks Financial. Forums: Hacker News

Keeping Tabs by The Browser Company:

The Browser Company says it is pivoting away from its Arc browser to build AI-native browser Dia, citing Arc's complexity and limited mass-market appeal — On Arc, its future, and the arrival of AI browsers — a moment to answer the largest questions you've asked us this past year. — The Browser Company

More: TechCrunch and TechIssuesToday.com

Bluesky: @dame.is. Mastodon: @nicklockwood@mastodon.social. X: @lyalindotcom, @ludwigabap, @altryne, @thesaraloretta, @petergyang, @naaackers, @morganlinton, and @joshm

Forums: r/ArcBrowser and r/swift

Bloomberg:

Xiaomi reports Q1 revenue up ~50% YoY to ~$15.5B, above ~$15.17B est., as it invests heavily in autonomous EVs and growing its smartphone business — Revenue reached 111.3 billion yuan ($15.5 billion), beating the average analyst estimates of 109 billion yuan.

More: South China Morning Post, Reuters, MarketWatch, and Xiaomi Corporation

Heather Somerville / Wall Street Journal:

Documents: self-driving truck startup TuSimple transferred critical autonomous driving tech and data to Chinese partners despite a 2022 agreement with CFIUS — TuSimple shared with Beijing a best-in-class autonomous driving system—and became a prime example of Washington's shortcomings in keeping critical technology in the U.S.

More: Off the Kuff. X: @jchengwsj

Simon Willison / Simon Willison's Weblog:

Researchers detail an exploit in GitHub's official MCP server that lets hackers trick an LLM agent into leaking private information about the MCP user — GitHub MCP Exploited: Accessing private repositories via MCP (via) GitHub's official MCP server grants LLMs a whole host of new abilities …

More: Invariant Labs. Bluesky: @simonwillison.net, @dcuthbert, @kennwhite, and @lukaszolejnik

Mastodon: @mikesax@mas.to, @simon@fedi.simonwillison.net, @tante@tldr.nettime.org, and @mttaggart@infosec.exchange

X: @lbeurerkellner and @convexdad

Forums: Hacker News, r/programming, and Lobsters

Alexios Mantzarlis / Indicator:

The top contributor to X's Community Notes is Web3 Antivirus, a startup that uses an automated process to flag crypto scam posts and has posted 52,000 times — I thought someone was gaming X's crowdsourced moderation; instead, they appear to be helping clean up the platform's mess for free.

Bluesky: @mantzarlis.com. X: @craigsilverman

Akila Quinio / Financial Times:

The UK, which launched open banking in 2018, is seeing its fintech sector struggle to make open banking-powered payments a viable alternative to card payments — London was a world leader for payments technology but now risks falling behind — Simply sign up to the Fintech myFT Digest — delivered directly to your inbox.

More: Watcher Guru and PYMNTS.com

Luz Ding / Bloomberg:

Temu-owner PDD reports Q1 revenue up 10% YoY to ~$13.3B, below ~$14.4B est., and says it is fulfilling US orders exclusively via local warehouses and merchants — The company reported revenue of 95.7 billion yuan ($13.3 billion), falling shy of the average analyst estimate of 101.6 billion yuan, for the quarter ended March.

More: Reuters and PDD Holdings Inc.

Financial Times:

European industrial groups Schneider, Siemens, ABB, and Legrand collectively added €151B in market value due to AI demand after ChatGPT's November 2022 launch — Electrical equipment makers including ABB and Legrand are surging thanks to a pivot to data centre infrastructure

Jessica Mathews / Fortune:

Tesla is set to launch its robotaxi service in Austin in June, but city officials say they are still awaiting important information regarding safety protocols — As soon as one week from today, the first driverless Tesla robotaxis could begin zipping passengers through the streets of Austin …

More: Motley Fool

Financial Times:

India's crypto industry is lobbying for tax cuts on domestic trading, hoping to seize on New Delhi's softening crypto stance as it negotiates a US trade deal — Government's attitude to digital assets has thawed following Trump's return to White House, say executives — Chris Kay in Mumbai and Krishn Kaushik in New Delhi

More: CoinDesk, Coinpedia Fintech News, Cryptopolitan, and Coinspeaker

Edith Hancock / Wall Street Journal:

The EU says Shein's practices breach its rules against false discounts, deceptive product labels, and more, and warn Shein could face fines if it doesn't comply — European Union regulators said China-founded e-commerce platform Shein's sales tactics fall foul of EU law and that the company …

More: Silicon Republic, The Register, BBC, Business Insider, Tech in Asia, Reuters, Euronews, The Irish Times, European Commission, DutchNews.nl, Euractiv, Irish Independent, The Independent, and The Standard

X: @hennavirkkunen, @sarahludford, @eu_consumer, and @eucssrmcgrath

Bloomberg:

Sources, including 30+ current and former Meta employees and 10+ US officials, detail Mark Zuckerberg's embrace of Trump, which has yet to pay major dividends — Meta's CEO has done everything he can to win over Trump, and it's not clear how much he has to show for it.

More: Cryptopolitan. Bluesky: @noupside and @noupside. X: @stevesi

Forums: Hacker News and r/politics

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