Ethereum co-founder Anthony Di Lorio has revealed that he would be quitting the cryptocurrency world.
According to a Bloomberg report, the crypto entrepreneur mentioned growing security concerns as one of the reasons why he was exiting the digital currency industry. He said:
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, who is one of eight founders of the Ethereum network and also CEO of Canadian Blockchain Company, Decentral, is looking to sell off his software development company in the coming weeks for fiat, or equity in another company - not crypto.
He also noted that he is looking to invest in non-crypto ventures. “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.” Di Lorio said.
Lorio is not the only one feeling particularly bullish about Bitcoin and other cryptocurrencies. The Crypto Fear & Greed Index for Bitcoin and other large-cap cryptocurrencies is currently in the “Extreme Fear” region. Similarly, Guggenheim CIO Scott Minerd recently advised investors to avoid Bitcoin in the meantime.