Ethereum Co-Founder Anthony Di Iorio Leaves Crypto

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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 and refocus on philanthropy and other non-crypto businesses. The Canadian expects to sever ties with other startups he is involved with and does not plan to fund any other blockchain projects.

Anthony Di Iorio, co-founder of EthereumCredit: Bloomberg

His risk profile doesn’t excite me too much, 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 middlemen like the banks. Ether, the network’s native token, has a market value of around $ 225 billion ($ 304 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 ($ 30 million) at St. Regis Residences Toronto, the former Trump International Hotel & Tower in the downtown business district.

Di Iorio founded Etherum in 2013 Credit: Bloomberg

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 ethers 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 in the hundreds of millions. He expects to sell the business for fiat or a stake in another business – not crypto.

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