At a time when investors and enthusiasts are entering the crypto-world en masse, not everyone seems satisfied with the ecosystem. Anthony Di Lorio who worked on Ethereum, recently announced his intention to quit the crypto industry. Personal safety concerns were cited as the reason for the same by the Candian billionaire.
According to a Bloomberg report, Di Lorio was also planning to sell his Canada-based digital asset firm Decentral Inc in fiat currency or equity in another non-crypto company. He said that he has already talked with potential investors, and has estimated his startup to be worth “hundreds of millions”. He had founded Decentral in 2016, which operates Jaxx Liberty, a multi-platform cryptocurrency wallet with over one million registered users.
The entrepreneur stated that post the sale, he will halt all involvement in any crypto-related projects in the future. He believed that there were significant risks to his personal safety due to his prominence in the crypto world. He was quoted as saying,
“It’s got a risk profile that I am not too enthused about. I don’t feel necessarily safe in this space. If I was focused on larger problems, I think I’d be safer.”
Di Lorio was cast into the crypto limelight quite early, with his involvement in the top blockchain Ethereum since its inception. He also tried his hand at different ventures and served as the chief digital officer of the Toronto Stock Exchange in 2016. He had reportedly been traveling with a security team since then, even as he was placed on Forbes’ crypto-rich list in 2018 with an estimated net worth of over $1 billion.
In recent years, the exec had been more involved in venture capital investing and startup advising. In a bid to diversify, he was now planning to focus on philanthropic ventures. With that aim, he joined Project Arrow, a company that was pursuing to build Canada’s first zero-emission vehicle. He opined that he can do much more for the world if he shifted his focus to larger issues:
“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.”