Ethereum co-founder Anthony Di Iorio said in a phone conversation with CoinDesk that he would be selling his current company Decentral and cutting his connections to the cryptocurrency sector to establish a charitable foundation in the next year.
“I’m a crypto guy and I don’t want to be known as a crypto person,” he said. “I want to be known as a problem solver.” A fair percentage of his consideration went into his own safety, he said.
According to Di Iorio, the new entity would use ideas that he learned while working as a crypto entrepreneur and, perhaps, even utilize blockchain technology on its own to solve big issues.
As the owner of Decentral and as the entity’s beneficiary, he will finance it via personal assets he won’t reveal, as well as through the money he makes from the sale of Decentral, which he values at $300 million. In an effort to begin negotiations, he has already begun discussions with several prospective bidders, and he expects that he will eventually sell Decentral for fiat money or an equity position in another company. Forbes said that Di Iorio was worth as much as $1 billion in 2018 when ether’s price was less than half of what it is now.
Two years ago, 46-year-old Canadian and well-known developer Stephan Tual, who was known for creating on the Ethereum network, revealed that he was resigning from Decentral, the company he founded that provides wallets and crypto services. He then went on to accept a position on the company’s board of directors. Nevertheless, after a few months, he had gone back to being a full-time management employee, putting his long-awaited philanthropic aspirations on hold.