Anthony Di Iorio, Co-founder of Ethereum Network

Ethereum Co-founder Anthony Di Iorio bids cryptocurrency world goodbye

*The Co-founder of Ethereum network and Decentral Incorporated Chief plans to sell his startup and refocus on philanthropy, other ventures unrelated to cryptocurrencies

Emmanuel Akosile | ConsumerConnect

While making plans to sell his digital startup Decentral, Anthony Di Iorio, a Co-founder of Ethereum network, has said that he is done with the cryptocurrency world, peradventure due to personal safety concerns.

Di Iorio, who is 48, has had a security team since 2017, with someone travelling with or meeting him wherever he goes, say agency report.

Cryptocurrencies

ConsumerConnect gathered that in coming weeks, he plans to sell Decentral Incorporated, and refocus on philanthropy and other ventures not related to crypto.

The Canadian investor, according to report, expects to sever ties in time with other startups he is involved with, and doesn’t plan on funding any more blockchain projects.

“It’s got a risk profile that I am not too enthused about. I don’t feel necessarily safe in this space.

“If I was focused on larger problems, I think I’d be safer,” said Di Iorio.

In 2013, Di Iorio was reported to have co-founded Ethereum, which has become the home of many of the hottest crypto projects, particularly in decentralised finance, which enables consumers to borrow, lend and trade with one another without intermediaries like banks.

Ether, the native token of the network, has a market value of about $225 billion, according to report.

He was said to have made a splash in 2018, when buying the largest and one of the most expensive condos in Canada, paying for it partly with digital money.

Di Iorio had purchased the three-story penthouse for C$28 million ($22 million) at the St. Regis Residences Toronto, the former Trump International Hotel & Tower in the downtown business district.

In recent years, however, Di Iorio jumped into venture-capital investing and startup advising.

He was also for a time Chief Digital Officer of the Toronto Stock Exchange.

Interestingly, Forbes February 2018 estimated his net worth was as high as $1 billion. Ether’s price has more than doubled since then.

Decentral is a Toronto-based innovation hub and software development company focused on decentralised technologies, and the maker of Jaxx, a digital asset wallet that garnered about 1 million customers in 2021.

Meanwhile, Di Iorio has disclosed he talked with a couple of potential investors, and believes the startup will be valued at “hundreds of millions.”

He expects to sell the company for fiat, or equity in another company, but not crypto, report said.

Di Iorio stated: “I want to diversify to not being a crypto guy, but being a guy tackling complex problems.

“I will incorporate crypto when needed, but a lot of times, it’s not. It’s really a small percentage of what the world needs.”

It was learnt that he is involved in Project Arrow, run by a high-school friend that’s building a zero-emission vehicle.

He is also consulting a senator from Paraguay, report added.

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