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Ethereum co-founder to exit crypto industry, set up philanthropy venture


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ARAB NEWS
ID: 
1626534471523329000
Sat, 2021-07-17 17:54

Ethereum co-founder Anthony Di Iorio will sell his current venture Decentral and cut ties with other crypto firms as he seeks to set up a philanthropic foundation.

The venture will be funded from his own wealth and the proceeds from the sale of Decentral, a digital wallet business, he told CoinDesk. Decentral is worth “a few hundred million dollars,” he said. In 2018, Forbes said his personal fortune was as much as $1 billion; Etherium has doubled in price since then.

He will use principles he developed as a crypto entrepreneur and maybe blockchain technology to tackle what he described as “large problems,” he said in an interview.

About 20 percent of his motivation for leaving the industry was personal security concerns, he said.

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