AI has been a ‘net negative’ for crypto: Phemex CEO

Crypto Insight Summary: Federico Variola says AI has diverted capital from crypto and is empowering attackers, while rising cybersecurity costs could push the industry toward greater centralization. Crypto Insight Analysis: Direction: Bearish Crypto Impact: Minor Impact Horizon: Mid-term (1-8 weeks) Reasoning: AI diverting capital and security concerns may pressure crypto markets.