Ethereum co-founder Anthony Di Iorio is all set to quit the cryptocurrency industry and sever ties with startups, according to reports. During a telephonic interview with CoinDesk, the entrepreneur and CEO of Decentral said that concerns about his personal security figured "a good 20%" of his decision to quit and work full-time on philanthropic initiatives.
The Ethereum co-founder's decision to leave cryptocurrency comes after Dogecoin founder Jackson Palmer slammed the industry in a series of tweets where he said that Cryptocurrency is 'inherently right-wing', 'hyper-capitalistic' technology that takes the worst parts of today's corruption, fraud, inequality to extract money from the 'financially desperate'."
"Financial exploitation undoubtedly existed before cryptocurrency, but cryptocurrency is almost purpose-built to make the funnel of profiteering more efficient for those at the top and less safeguarded for the vulnerable," Dogecoin founder Jackson Palmer tweeted on July 14.
Anthony said that he will not invest in any more blockchain projects. He would also sell his current venture Decentral to start a philanthropic foundation in the next year. Anthony said that he will not invest in any more blockchain projects.
"I'm a crypto guy and I don't want to be known as a crypto person," Anthony said further adding that he wants to be known as a problem solver.
Who is Anthony Di Iorio?
Anthony Di Iorio is a Canadian entrepreneur well known as the co-founder of Ethereum cryptocurrency. He was also an early investor in Bitcoin. Anthony Di Iorio's Twitter bio says: "Striving to make character my loudest statement." This totally reflects in his latest decision.
Why is Anthony Di Iorio Selling Decentral?
Well, it's not easy to live the life of a billionaire. Anthony, 48, who owns the blockchain company, has been traveling with a security team ever since 2017 for fear of his personal safety. Decentral, a Toronto-based wallet and crypto services provider, was founded in 2014.
Its flagship product, Jaxx Liberty, counted about 1 million customers in 2021. However, he has decided to sell his blockchain venture to focus on projects unrelated to cryptocurrency.
Anthony Di Iorio, Ethereum Co-Founder Net Worth
According to Forbes, Anthony has an estimated net worth of $1 billion.
Value of Ethereum in Crypto Market
Anthony co-founded Ethereum along with seven others in Switzerland. However, only one among them is still working on the blockchain. Ether, which is the world's second-largest cryptocurrency, held a market value of $221 billion as of July 19. Reportedly, the cryptocurrency has shown a 53% increase in trading volumes quarter-on-quarter to an average of $3.25 billion a day on global exchanges.