Ethereum co-founder decides to quit cryptocurrency due to safety reasons

Among the multiple founders of the Ethereum network, 48 years old Anthony Di Iorio has decided to quit the crypto space due to safety reasons. According to a Bloomberg report, he said that he was done with the Cryptocurrency world mostly because of safety reasons.

Di lorio, along with Charles Hoskinson who now runs Cardano network, Vitalik Buterin, and few others, founded Ethereum back in 2013. The digital asset has a market cap of around 220 billion dollars after 8 years with it being the second-largest cryptocurrency network in the world.

Di Iorio plans to sell out all his cryptocurrency in the upcoming weeks. He also refused to disclose his crypto portfolio. He said crypto has got a risk profile which doesn’t encourage him much. It is worth mentioning that the Canadian travels with a security team everywhere.

“I don’t feel necessarily safe in this space. If I was focused on larger problems, I think I’d be safer.”

The Toronto-based entrepreneur attracted all the attention in 2018 when he purchased the biggest and one of most expensive penthouses in Canada paying a hefty sum of 22 million dollars. His net worth was estimated to be as high as one billion dollars by Forbes in February 2018.

Also read: Ethereum becomes the top-ranked project on Coinrank for the second consecutive month

Ethereum was valued at $888 during that period which increased more than four and a half times since that period. Although it is being traded around $1880 at the time of publishing the article, the overall increase in the value of this asset still has been more than two times.

His company Decentral, as the name suggests focuses on decentralized technologies. Di lorio is planning to sell his startup and is expecting to get a price of about hundreds of millions but he wants to seal the deal in fiat currency, not in cryptocurrency.

“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.”, he concluded.

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