Elliptic Warns AI Crypto Trading Surge Fuels Security Arms Race

On May 18, Elliptic CEO Simone Maini highlighted how autonomous AI trading is overwhelming legacy compliance systems and amplifying fraud risks in crypto markets. The alert follows the firm’s $120 million funding round closed May 12 with support from Deutsche Bank and Nasdaq Ventures to develop real-time AI monitoring tools. Earlier in the period, retail interest rose after May 13 spectator-sport trading events at Manhattan’s Church Street Boxing Gym offering $10,000 prizes, while professional traders shifted toward specialized terminals like CPX for direct Bybit access. Total crypto market cap reached $2.635 trillion with Bitcoin dominance at 58.27 percent.