Ethereum Network co-founder Anthony Di Iorio has said that he is leaving the cryptocurrency world, partly due to concerns for his personal safety.
According to reports, the 48-year-old has had a security team since 2017, consisting of guards who travel with him or meet him everywhere.
He plans to sell Decentral Inc – an innovation hub and software development firm Toronto – over the next few weeks. The company focuses on decentralized technologies and is the creator of Jaxx, a wallet for digital assets with nearly one million customers this year.
Mr Di Iorio told bloomberg That he plans to focus on philanthropy and other crypto-related projects. He said that he does not plan to finance any additional blockchain projects and expects to reduce his connections to other startups he is currently working with.
“It has a risk profile that I’m not very excited about,” Mr. Di Iorio said. He chose not to reveal his crypto holdings and net worth, outlet Reported. “I don’t necessarily feel safe in this place. If I focused on the bigger problems, I think I’d be safe.”
He co-founded Ethereum in 2013, and the network has grown into the platform with the most attention-grabbing crypto projects. This has been particularly the case in decentralized finance, an area where people can borrow, trade, and lend to each other without using banks. The network’s native token Ether has a market cap of about $225 billion.
canadian He gained notoriety when he bought one of the largest and most expensive condos in the country partly with digital money. St Regis Residences Toronto’s three-story penthouse – located in the former Trump International Hotel & Tower – downtown business hub, cost him C$28m ($22m).
Over the years, Mr. Di Iorio has been active in venture-capital investing and as an advisor to startups. He has also served as Chief Digital Officer at the Toronto Stock Exchange.
Forbes Estimates Her net worth was around $1bn as of February 2018. Since that time, the value of ether has more than doubled.
Mr Di Iorio told bloomberg That he has spoken to potential investors for Decentral Inc. and that he thinks the startup will be valued at “hundreds of millions” of dollars.
He hopes to sell the company not for crypto but for fiat, or equity, in a separate company.
Fiat money is a currency that has been established as money, often by rules established by governments.
“I want to diversify not being a crypto guy, but being a person dealing with complex problems,” he told the outlet.
He is part of Project Arrow, which is building a no-emissions vehicle and is run by Mr. Di Iorio’s high school friend. He is also an advisor to the Paraguayan senator.
“I would include crypto if needed, but there are times when it doesn’t,” he said. “That’s a small percentage of what the world really needs.”
He also told coindesk: “I’m a crypto person and I don’t want to be known as a crypto person. I want to be known as a problem solver.”