Friday, August 19, 2022
HomeCryptocurrencyThis Is Why Ethereum Co-Founder Is Bidding Farewell to Crypto Industry

This Is Why Ethereum Co-Founder Is Bidding Farewell to Crypto Industry

An Ethereum (ETH) co-founder, Anthony Di Iorio, an entrepreneur that founded the Canada-based blockchain firm, Decentral, has stated that he’s quitting the crypto industry.

In a Bloomberg report, Di Iorio said he’s leaving the crypto world to focus on other projects that are not cryptocurrency-related. He also pointed out that he intends to sell the blockchain firm in the coming weeks for fiat currency.

Read Also: EIP-1559 Is Set To Go Live With London Upgrade in Early August Following Successful Testnet Deployment

As a venture capitalist, the Ethereum co-founder said from now on, he will be focusing on philanthropy and other projects rather than funding companies that are related to blockchain.

Anthony Di Iorio noted:

“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.”

Back in 2013, Di Iorio created Ethereum alongside side others such as Vitalik Buterin and the founder of Cardano (ADA), Charles Hoskinson. Ethereum has since become a famous home of several cryptocurrency projects, especially the booming decentralized finance (DeFi).

In 2018, he made a huge purchase of one of the most expensive condos in Canada, paying a part of the property that was $22 million with digital currency.

According to Bloomberg, Di Iorio is currently involved in a company named Project Arrow, a company lead by his high-school friend. The report also pointed out that the project is targeted at building zero-emission vehicles.

Read Also: Santiment: Ethereum (ETH) Whales Keep Taking Advantage of the Cheap Price to Accumulate

He’s also reportedly in consultation with a senator in Paraguay. However, he has shared no further information on the matter.

<

He said:

“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.”


Follow us on Twitter, Facebook, Telegram, and Google News

Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
RELATED ARTICLES

Latest News & Articles

Recent Comments