Ethereum Co-founder Anthony Di Iorio Is Quitting Crypto Out Of Personal Safety Concerns
Ethereum Co-founder and CEO of Decentral Inc.– Anthony Di Iorio, has called it quits with cryptocurrency. The once crypto enthusiast and advocate said he’s done with the cryptocurrency and everything related to it and the decision is born partially out of personal safety concerns.
Anthony Di Iorio has decided to sell Decentral Inc.; his software company based on blockchain technologies. After selling Decentral Inc., he plans on focusing his energy on philanthropy and other ventures not related to crypto. He is also expected to end his relationships and partnerships with crypto-based startups and companies as he has zero plans of funding any blockchain projects in the future.
Based in Toronto, Canada, Decentral Inc. is an innovation hub and software development company focused on decentralized technologies. It is the maker of Jaxx, a digital asset wallet that gained about 1 million customers this year alone. The Ethereum network, which has housed many of the world-famous decentralized finance crypto projects was co-founded by Anthony Di Iorio in 2013. The network’s native coin called Ether has a market value of about $225 billion.
“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”, Anthony Di Iorio said about his latest decision while also refusing to disclose his net worth or cryptocurrency holdings. Some people believe that he might be quitting cryptocurrency as a result of the latest happenings in the cryptoverse that has affected majorly Bitcoin. Tesla’s rejection coupled with a row of crackdowns on Bitcoin mining hubs in China and other minor factors has sent Bitcoin tumbling. More than $300 billion worth of cryptocurrency has been wiped off the cryptocurrency market so far. The “heat” might be too much for Anthony Di Iorio to handle and may be the reason he is quitting cryptocurrency.
The Decentral Inc. CEO has been diversifying into other endeavors with venture-capital investing and startup advising at the top of the list. His net worth was estimated to be $1 billion by Forbes in February 2018.
“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”, Anthony Di Iorio said.
Di Iorio, 48, has had a security team since 2017, with someone traveling with or meeting him wherever he goes. In coming weeks, he plans to sell Decentral Inc., and refocus on philanthropy and other ventures not related to crypto. The Canadian expects to sever ties in time with other startups he is involved with, and doesn’t plan on funding any more blockchain projects.
Back in 2013, Di Iorio co-founded Ethereum, which has become the home of many of the hottest crypto projects, particularly in decentralized finance — which lets people borrow, lend and trade with each other without intermediaries like banks. Ether, the native token of the network, has a market value of about $225 billion.
In recent years, Di Iorio jumped into venture-capital investing and startup advising. He was also for a time chief digital officer of the Toronto Stock Exchange. In February 2018, Forbes estimated his net worth was as high as $1 billion. Ether’s price has more than doubled since then.
Di Iorio said he has 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 — not crypto.
“I will incorporate crypto when needed, but a lot of times, it’s not,” he said. “It’s really a small percentage of what the world needs.”