Ethereum Co-Founder to Exit the Crypto World, Cites Safety Concerns

Ethereum cryptocurrency co-founder, Anthony Di Iorio, announced that he would be exiting the cryptocurrency industry, partly because of safety issues.

The 48-year-old began working with a security team in 2017. As such, he always has an individual traveling either alongside him or ready to meet him to any place he goes to.

In the forthcoming weeks, Di Iorio intends to dispose of his current venture, Decentral, and sever ties with other cryptocurrency companies.

His plan is to shift his concentration towards philanthropy. In his announcement, he also mentioned that he would no longer be financing blockchain projects.

One of the reasons he cited for making this move, involves the level of risk that’s brought about by his job. He, however, refused to reveal his cryptocurrency holdings and net worth.

Di Iorio started Ethereum back in 2013, alongside seven other individuals. Ethereum has since grown to become one of the biggest crypto projects that’s ever existed, more so in the decentralized finance (DeFi) space.

DeFi allows customers to borrow, advance and trade with one another without having to ask a bank to serve as an intermediary. As we speak, the market value of Ether, the network’s native token, is estimated at $225 billion.

Di Iorio particularly drew attention to himself when he purchased the biggest and one of the most pricey condos in Canada, back in 2018. He paid a portion of this property using digital money.

His three-story penthouse was bought for approximately C$28 million, which is equivalent to US$22 million. The condo is situated at the St. Regis Residences Toronto.

More recently, he had a crack at venture-capital investing and startup advising. He has also served as the chief digital officer of the Toronto Stock Exchange.

Three years ago, Forbes gave an estimate of his net worth, believing that it exceeded US$1 billion. Since then, the value of Ether has increased by more than twofold.

Leave a Reply

Your email address will not be published. Required fields are marked *