Ethereum co-founder Anthony Di Iorio has decided to cut ties with the crypto industry for good. In an interview with Bloomberg, Di Iorio cited security concerns as partially responsible for his decision. His departure follows the comments made by Dogecoin co-founder Jackson Palmer last week. Palmer had slammed cryptocurrencies in a tweetstorm on July 16, and alleged that they were “controlled by a powerful cartel of wealthy figures.” Ethereum Co-Founder Anthony Di Iorio Announces Exit From Crypto Industry Anthony Di Iorio recently spoke with Bloomberg and informed the publication that he would be exiting the crypto sector for ethical reasons. The Ethereum co-founder specifically talked about the safety concerns he confronted while working in the industry. Di Iorio has reportedly been accompanied by a security team to all his meetings and travels since 2017. “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,” Di Iorio noted. The early crypto adopter is said to have invested heavily in Bitcoin in 2012, after selling his rental properties. He also backed a venture focused on starting companies in the digital asset market. In 2013, he co-founded Ethereum, the second-largest cryptocurrency by market cap, which hosts some of the most popular projects in decentralized finance (DeFi) space. Di Iorio made headlines in 2018 when he bought one of the most expensive condos in Canada and paid for it in digital currencies. Back then, Forbes magazine estimated him to be worth $1 billion. Di Iorio’s Future Plans and Ventures As part of severing his ties with the crypto industry, Di Iorio will back out from all the projects he holds a stake in. This includes his own venture Decentral, which he expects to sell for fiat money or equities — but not crypto. He claimed that he has already spoken with investors and any deal for the firm will be valued at “hundreds of millions.” The entrepreneur plan to divert his attention to philanthropy and work on a variety of issues. “I want to diversify to not being a crypto guy, but being a guy tackling complex problems,” Di Iorio asserted. However, unlike Palmer, Di Iorio isn’t completely averse to the possibility of working again with crypto. He said, “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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