Phemex CEO Warns AI Poses Net Negative Impact on Crypto Industry

Phemex CEO Federico Bariola said in a CoinTelegraph interview that AI is having a generally negative impact on the cryptocurrency industry. He cited capital moving away from crypto into other sectors and hackers' capabilities becoming more threatening as reasons for his concern. Bariola noted that smaller teams face increased security cost burdens, which could lead to greater centralization during responses. However, he added that AI agents could be useful for portfolio construction and trading decisions.