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Crypto

ECB warns stablecoin spread could trigger bank runs, undermine monetary policy, urges faster digital euro

The European Central Bank warned that the spread of stablecoins could undermine financial stability and reinforce a U.S. dollar-centred international monetary order. It reiterated that central bank-issued or -backed digital currency infrastructure should take priority over private stablecoins. ECB board member Isabel Schnabel said stablecoins could weaken bank intermediation, trigger bank runs and impair monetary policy transmission, while raising concerns over monetary sovereignty. The ECB is pursuing a digital euro and a wholesale tokenised central bank currency.

AI & Enterprise

ECB urgently calls euro zone banks to discuss \'Mythos shock\'

The European Central Bank has urgently convened euro zone banks to review cyber risks triggered by Anthropic\'s advanced AI model Claude Mythos. A meeting on May 26 will focus on how quickly banks apply security patches and how they respond to AI-driven attacks. ECB supervisory board vice chair Frank Elderson said attackers can now reverse-engineer patch contents within 30 minutes, requiring faster deployment and operations.

Finance

Anthropic\'s Mythos finds security gaps; U.S. banks rush patches

Major U.S. banks are accelerating fixes after identifying dozens of security vulnerabilities using Anthropic’s AI security tool Mythos. Banks say the tool is finding hundreds to thousands of low to medium vulnerabilities, some of which could combine into more damaging attack paths. They are sharing information with smaller lenders that lack access. The ECB’s Frank Elderson urged euro zone banks to prepare quickly for cyberattacks aided by Mythos or similar tools.