Canadian entrepreneur and Ethereum Co-Founder Di Lorio to quit the world of blockchain & cryptocurrency and sell all his crypto holding.
The second largest cryptocurrency cofounder, Di Lorio said he ‘doesn’t feel necessarily safe in his space’. ‘If I was focused on larger problems, I think I’d be safer,’ he added.
Since Ethereum was founded, the network has grown significantly big and has billions of assets locked aside its couple hundred billion dollars native token valuation. The Ethereum network has been the foundation of great innovations in the entire crypto space.
The two massive bull runs has had its foundation in the Ethereum Network. In 2017, the ICO boom resulted in the coming alive of several innovative projects and companies in the industry.
The Decentralized Finance innovation also has its roots in the Ethereum Network which has spread to other networks. Likewise the NFTs.
It was revealed that the entrepreneur has been moving around with security since 2017. He said the crypto space has a risk profile that he is not too enthused about. In the coming weeks, he noted that he will be selling his organization, Decentral Inc., a Toronto-based Innovation Hub and software development company with focus on decentralized technologies, and the maker of the Jaxx cryptocurrency wallet.
Di Lorio who revealed he would expect to receive fiat or equity in a non-crypto company said he has spoken with several investors and think the company will be valuated at several hundreds of millions.
‘I want to diversify to not being a crypto guy, but being a guy tackling complex problems, he said.
Future Plans for Di Lorio after Crypto
The Ethereum co-founder after quitting crypto completely wishes to move his attention to other things of interest such as philanthropy and other ventures not related to crypto.
For some time now, Di Lorio has been involved in venture capital investing and advising startups, but he has noted that moving on, he doesn’t wish to fund any blockchain projects.
