Pro Full levels on educational trade ideas & Pro Hub - 7-day free trial, then $5.90/mo. Cancel anytime.

News · Crypto · Cointelegraph · Wed, Sep 16, 2026 7:00 AM

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

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

Why this matters for multi-asset traders

The headline theme is "AI has been a ‘net negative’ for crypto: Phemex CEO". We reframe the story for readers tracking equities, FX majors and crypto liquidity - without copying the original wording.

Watch related price action on OpenBook movers and treat this note as information, not investment advice.

Based on reporting from Cointelegraph. Read the original.

New to these markets? Browse our plain-English market guides to forex, gold, oil, indices and crypto.

This briefing was summarized with automated tools from public reporting by Cointelegraph and is general market information, not investment advice. Editorial policy & corrections