Anthony Di Iorio, a co-founder of the Ethereum network, says he's done with cryptocurrencies, citing personal security concerns as one of the reasons.
Since 2017, Di Iorio, 48, has had a security squad accompanying him or meeting him everywhere he travels. He intends to sell Decentral Inc. in the next weeks and focused on charity and other non-crypto projects. The Canadian intends to cut links with other businesses he's engaged with in the future, and he has no plans to invest in any additional blockchain ventures.
Di Iorio, who declined to reveal his cryptocurrency holdings or net worth, added, “It has a risk profile that I am not very thrilled about.” “I don't always feel secure in this environment. I believe I would be safer if I concentrated on bigger issues.”
Di Iorio co-founded Ethereum in 2013, and it has since been the home of many of the most popular crypto projects, notably in decentralized finance, which allows individuals to borrow, lend, and trade directly with one another without the use of intermediaries such as banks. The network's native coin, Ether, is worth $225 billion.
In 2018, he made headlines when he purchased Canada's largest and most expensive apartment, paying for it in part using digital currency. Di Iorio paid C$28 million ($22 million) for the three-story penthouse in the St. Regis Residences Toronto, the former Trump International Hotel & Tower in Toronto's downtown business center.
With recent years, Di Iorio has dabbled in venture capital and startup consulting. He was also the Toronto Stock Exchange's chief digital officer for a while. Forbes assessed his net worth to be as high as $1 billion in February 2018. Since then, the price of Ether has more than doubled.
Decentral is a decentralized technology innovation hub and software development firm located in Toronto, and the creator of Jaxx, a digital asset wallet with over 1 million users this year.
Di Iorio said he's spoken with a few possible investors and believes the company will be worth "hundreds of millions of dollars." He intends to sell the company for fiat money or ownership in another firm, not cryptocurrency.
Di Iorio stated, "I want to diversify from being a crypto person to being a guy who solves complicated problems." He's a part of Project Arrow, a zero-emission car being built by a high-school friend. He is also consulting a Paraguayan senator.
“I'll use crypto when it's necessary, but that's not always the case,” he added. “It's only a fraction of what the world requires.”
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