ASML appoints veteran Marco Pieters as new chief technology officer

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ASML, the world’s leading manufacturer of semiconductor lithography machines, has named Marco Pieters as its new chief technology officer (CTO), the company announced Thursday. Pieters, a 25-year ASML veteran, will also join the firm’s management board, pending approval at the April 2026 annual meeting.

Trained as a mathematician, Pieters has led several of ASML’s major product lines, including its Holistic Lithography program, which integrates hardware and software to improve chipmaking precision. CEO Christophe Fouquet praised Pieters’ long-standing contributions, saying he has “full support in driving forward our technology roadmap.”

Pieters succeeds Martin van der Brink, who retired in 2024 after a four-decade career that saw ASML rise from a small Dutch equipment supplier to a global leader in chip manufacturing technology. Van der Brink’s strategic bets on extreme ultraviolet (EUV) lithography helped ASML overtake rivals Nikon and Canon to dominate the sector.

ASML’s advanced lithography machines — some priced at $400 million — are essential to producing cutting-edge chips used in AI processors, smartphones, and data centers. Pieters’ appointment reinforces ASML’s focus on innovation amid rising global demand for semiconductor technology.

The company also plans to reappoint CFO Roger Dassen at the same meeting.

New York City sues tech giants for allegedly fueling youth mental health crisis

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New York City has filed a sweeping federal lawsuit against Meta, Google, Snap, TikTok, and ByteDance, accusing them of addicting children to social media and worsening a mental health crisis among young users. The 327-page complaint, lodged in Manhattan federal court, seeks damages for gross negligence and public nuisance, alleging that platforms like Instagram, YouTube, Snapchat, and TikTok were deliberately engineered to exploit the psychology of youth for profit.

The lawsuit claims the companies’ products have contributed to rising rates of depression, sleep deprivation, and chronic absenteeism among minors. According to the city’s data, more than 77% of New York City high school students spend over three hours daily on screens, and 82% of girls report similar habits.

New York’s health commissioner declared social media a public health hazard earlier this year, citing growing taxpayer burdens to combat mental health challenges in schools. The city also linked compulsive platform use to dangerous behaviors such as “subway surfing,” which has caused at least 16 deaths since 2023.

The case joins over 2,000 similar lawsuits filed nationwide, now consolidated in federal court in Oakland, California. A spokesperson for Google rejected the allegations, saying YouTube is a streaming platform rather than a social network. Other defendants have not yet commented.

The city argues that the companies must be held accountable for the harm caused by their algorithms, which it says have created a costly and deadly youth mental health epidemic.

Gemini launches Australian arm to expand crypto exchange services

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Gemini, the New York-based cryptocurrency exchange founded by Tyler and Cameron Winklevoss, has launched its Australian division, marking a major expansion into one of the world’s fastest-growing crypto markets.

The new entity, Gemini Intergalactic Australia, will operate locally after securing registration with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a digital currency provider. Previously, Australian users accessed Gemini’s global platform remotely.

“We think there’s enough market opportunity for us to build a local platform,” said Saad Ahmed, Gemini’s head of APAC, during the TOKEN2049 crypto conference in Singapore. He noted that growing institutional demand and a need for localized services make Australia a key market for Gemini’s Asia-Pacific strategy.

Crypto adoption in Australia has climbed to 31% this year, up from 28% in 2023, according to the Independent Reserve Cryptocurrency Index. The launch comes as global exchanges compete for regulatory footholds and investor trust amid renewed optimism in the digital asset sector.

Gemini, which went public on Nasdaq last month after raising $425 million, aims to provide a secure and compliant exchange tailored for Australian users.