Russian Authorities Arrest Blum Co-Founder Vladimir Smerkis Over Fraud Allegations

Vladimir Smerkis, co-founder of Blum and former Binance CIS head, was arrested in Moscow on May 16, 2025, on charges of large-scale fraud. His arrest signals increased scrutiny within the Russian crypto industry and raises questions about the future leadership of the company. The market’s immediate response to this event has been limited, but experts are monitoring for potential long-term impacts.