Ethereum co-founder says security concerns drove him out of crypto – .

Ethereum co-founder says security concerns drove him out of crypto – .

Anthony Di Iorio, co-founder of the Ethereum network, says he’s done with the cryptocurrency world, in part because of personal security concerns.
Di Iorio, 48, has had a security team since 2017, with someone accompanying him or meeting him wherever he goes. In the coming weeks, he plans to sell Decentral Inc. and refocus on philanthropy and other non-crypto businesses. The Canadian expects to cut ties with other startups he is involved with and no longer plans to fund other blockchain projects.

“He has a risk profile that I’m not too excited about,” said Di Iorio, who declined to disclose his cryptocurrency holdings or net worth. “I don’t necessarily feel safe in this space. If I focused on bigger issues I think I would be safer.

In 2013, Di Iorio co-founded Ethereum, which has become home to many of the hottest crypto projects, especially in decentralized finance, which allows people to borrow, lend, and trade without intermediaries. like banks. Ether, the network’s native token, has a market value of around US $ 225 billion.

He caused a sensation in 2018 by purchasing the largest and one of the most expensive condos in Canada, paying for it in part with digital money. Di Iorio bought the three-story penthouse for C $ 28 million (US $ 22 million) at St. Regis Residences Toronto, the former Trump International Hotel & Tower in the downtown business district.

In recent years, Di Iorio has embarked on venture capital investment and advice to startups. He was also for a time Chief Digital Officer of the Toronto Stock Exchange. In February 2018, Forbes estimated his net worth to be $ 1 billion. The price of ether has more than doubled since then.

Decentral is a Toronto-based innovation hub and software development company focused on decentralized technologies, and the maker of Jaxx, a portfolio of digital assets that has attracted approximately 1 million customers this year.

Di Iorio said he spoke to a few potential investors and believed the startup would be valued at “hundreds of millions.” He expects to sell the business for fiat or equity in another business – not crypto.

“I want to branch out so that I’m not a crypto guy, but a guy who tackles complex issues,” Di Iorio said. He’s involved in Project Arrow, run by a friend from high school who builds a zero-emission vehicle. He is also consulting a senator from Paraguay.

“I will integrate crypto when needed, but often I don’t,” he said. “It’s really a small percentage of what the world needs. ”


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