Saturday, January 22, 2022

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.

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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.

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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.”

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Solomon Odunayo
Solomon Odunayo is a cryptocurrency journalist with over 3 years of experience in the crypto industry. He's sternly interested in covering developments of emerging and established blockchain projects.

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