Anthony Di Iorio, the founder of the blockchain platform and cryptocurrency Ethereum, said that he has left the cryptocurrency business. Part of that has to do with personal safety, Bloomberg reported.
“It (cryptocurrency assets, – ed.) has a risk profile that I’m not too happy about. I don’t feel safe in that space. If I were focused on bigger issues, I think I’d be safer,” said Di Iorio, who declined to disclose his cryptocurrency assets or net worth.
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It is noted that Di Iorio has had personal security permanently since 2017. In the coming weeks, he plans to sell his company Decentral Inc. This is an innovation center and software development company that focuses on decentralized technology. The business will be valued at “hundreds of millions,” he said.
The businessman wants to shift his attention to philanthropy and businesses unrelated to cryptocurrency. Di Iorio also expects to cut ties with his other startups over time and has no plans to fund blockchain projects.
“I want to diversify from being a cryptocurrency guy to dealing with complex issues. I’ll include cryptocurrency when necessary, but most of the time I don’t. It’s a small percentage of what the world needs,” the businessman stressed.
Di Iorio is now involved in a project to develop a zero-emission car.
- In 2013, Di Iorio co-founded Ethereum, the second most capitalized cryptocurrency in the world with a market value of about $225 billion. In 2018, the businessman bought the largest and one of the most expensive apartments in Canada ($22 million), paying for it in part with cryptocurrency. In recent years, Di Iorio has been involved in venture capital investing and advising startups. He was also director of digital technology at the Toronto Stock Exchange. In February 2018, Forbes valued his capital at $1 billion. Since then, the price of Ethereum has more than doubled.