Blum Co-Founder Vladimir Smerkis Arrested in Russia, Impacts Legacy Ventures

Vladimir Smerkis, co-founder of the Blum crypto project, has been arrested in Russia on May 18, 2025, facing $15 million fraud charges related to past ventures. This arrest is specifically linked to legacy projects like Token Fund and Tokenbox, but doesn’t directly affect Blum. Despite the indictment, Blum assures stakeholders that operations are unaffected. Smerkis has resigned from his position as chief marketing officer within the company.