Home News High-profile Ethereum co-founder quits crypto over safety concerns

High-profile Ethereum co-founder quits crypto over safety concerns

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Ethereum blockchain co-founder Anthony Di Iorio has officially announced his intention to sever all kinds of ties with all crypto projects in which he participated. The 48-year-old Canadian wants to leave the world of “new money and technology” for reasons of his own safety.

Iorio, despite his great contribution to the cryptocurrency industry and distributed ledger technology, seriously intends to withdraw from all current projects, directing his activities to charity.

Since 2017, the man has his own security service. It helps him to calculate in advance all the steps for investing in various projects. Based on the latest research from his team, further participation in crypto projects is not safe. Based on the fact that Iorio publicly made a promise never to return to his previous activities, it can be concluded that his security service presented him with more than weighty arguments not for the security of the blockchain technology sphere.

Sale of the Decentral Inc.

Di Iorio plans to sell his company to Decentral Inc. in the coming weeks and refocusing attention on charities and other non-cryptocurrency ventures. The Canadian expects to sever ties with other startups in which he participates in time and does not plan to fund any more blockchain projects. At the same time, Anthony Di Iorio refused to disclose information about his assets in cryptocurrency.

“Cryptocurrency has a risk profile that doesn’t inspire me too much. I don’t feel safe in this space. If I had been focused on bigger issues, I think I would be safer”, notes Anthony Di Iorio.

Decentral specializes in software development for creating decentralized technologies. One of its developments – the Jaxx wallet – attracted about a million customers last year. Di Iorio said that he is already negotiating with investors and believes that the company can be valued at “hundreds of millions”. He expects to sell Decentral for fiat money or shares of another company, not cryptocurrency.

“I want to become a person who solves difficult problems. I will use cryptocurrency when necessary, but most of the time, there is no need for it. Cryptocurrency is a small part of what the world needs”, the entrepreneur believes.

Di Iorio is currently working on Project Arrow to create a zero-emission vehicle.

Who is Anthony Di Iorio?

Di Iorio co-founded the Ethereum blockchain in 2013. Today, the market value of ether, the network’s own token, has reached about $ 225 billion. In 2018, Di Iorio acquired the largest and one of the most expensive apartments in Canada – a three-story penthouse for $ 22 million at the St. Regis Residences Toronto in downtown Toronto, partly paying for it with digital money. In recent years, Di Iorio involved in venture capital investment and start-up consulting. For a time, he also served as the digital director of the Toronto Stock Exchange. In February 2018, Forbes estimated his net worth at $ 1 billion.

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