Latest News

Ethereum’s co-founder is selling Decentral and severing ties with the cryptocurrency.

Ethereum's co-founder is selling Decentral and severing ties with the cryptocurrency

Ethereum co-founder Anthony Di Iorio said he is ready to sever his strong link to the cryptocurrency market. He is selling his current firm Decentral to create a humanitarian foundation in the upcoming year.

A Problem Solver

“I’m a crypto guy, and I don’t want to be known as a Crypto person. I want to be known as a Problem Solver.”

Fears about his safety figured “a good 20%” into his decision, he added. To solve what he described as “large problems,” Di Iorio claimed the new organization would employ ideas he learned as a crypto entrepreneur, as well as perhaps blockchain technology itself.

Decentral values at “a few hundred million dollars”

He plans to finance the acquisition using his assets and proceeds from the sale of Decentral. He estimates the value of Decentral “a few hundred million dollars”. As a result, he’s already in touch with potential buyers. Moreover, he expects to sell Decentral for fiat currency or a share in another business instead of cryptocurrency. Forbes estimated Di Iorio’s wealth at $1 billion in 2018. This was the time when the price of ether was less than half what it is now.

Di Orio’s Future Projects

Two years ago, the 46-year-old Canadian said that he would resign as board chairman of Decentral, the wallet and crypto services provider he created. But, after a few months, he was back in a day-to-day management role, delaying his long-awaited full-time commitment to philanthropy.

While he will cease his connections with other associated blockchain companies, he stated that he is open to combining blockchain technology with different techniques in his future work. Di Iorio explained:

There’s a middle ground, and crypto is a tool in my tool belt.”

The Foundation

He claimed his foundation has already engaged a public relations company and that “we’re trying to move forward and scale,” which includes employing people.

The foundation will work in various businesses and on multiple issues, although Di Iorio did not say which ones. He was a part of weekly “whiteboarding sessions” with several industrial and political figures, including Carlos Rejala, a Paraguayan lawmaker and bitcoin fan.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.