Federico Variola says AI has diverted capital from crypto and is empowering attackers, while rising cybersecurity costs could push the industry toward greater centralization.
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Federico Variola says AI has diverted capital from crypto and is empowering attackers, while rising cybersecurity costs could push the industry toward greater centralization.
The former employees allegedly earned more than $50,000 each by trading Hyperliquid perpetuals ahead of Robinhood token listings.
The $450 million withdrawal came as Bitcoin fell 2.5% and the CLARITY Act failed to advance in the Senate, with Fidelity and BlackRock funds leading the outflows.
The CLARITY Act could still be revived after Senator Thom Tillis moved to reconsider the failed cloture vote, though industry executives are divided over whether Congress has enough time left.
A BIS study found widely used crypto metrics can obscure economic activity, with measurement challenges spanning Bitcoin, Ethereum and stablecoins.
Circle and Coinbase shares fell about 10% as the failed Senate vote weighed on crypto-linked equities, with Bitcoin miners and treasury companies also declining.
The failed procedural vote leaves the CLARITY Act facing an uncertain future after months of negotiations over crypto oversight and ethics provisions.
A Bank of England policy maker said digital dollars could expand access to the US currency while turning stablecoin issuers into bigger buyers of government debt.
The crypto exchange is expanding its traditional finance offerings with 11 US-listed exchange-traded funds focused on US Treasurys and investment-grade bonds.
Bitcoin price action weakened over market nerves prior to the Senate CLARITY Act vote, while surging bond yields pressured risk assets across the board.