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Phemex CEO Federico Variola told Cointelegraph’s Chain Reaction that artificial intelligence has been a net negative for the crypto industry, arguing it has siphoned liquidity away from crypto, empowered attackers, and raised cybersecurity costs that could push projects toward greater centralization. His remarks follow Phemex’s own AI-focused transformation announced in February and come amid a spate of AI-linked security incidents in the space.
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