
AI has been a ‘net negative’ for crypto: Phemex CEO
Federico Variola says AI has diverted capital from crypto and is empowering attackers, while rising cybersecurity costs could push the industry toward greater centralization.

Federico Variola says AI has diverted capital from crypto and is empowering attackers, while rising cybersecurity costs could push the industry toward greater centralization.

Each market met at least one risk criterion, but Phemex did not disclose which issue applied to each pair.
Phemex’s 2026 Ultimate Championship uses global football attention to show how the exchange wants traders to move across one connected ecosystem. The campaign features a $7 million prize pool, a $6 million Trading Showdown allocation, prediction contracts, spot and futures trading, Mystery Boxes, rewards, and country-based competition. At the center is Golden Ball, a shared