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After Dogecoin founder’s rant against crypto, Ethereum's founder says he's leaving the industry, citing "personal security concerns."

After Ethereum co-founder Jackson Palmer slammed the cryptocurrency industry in a series of tweets, Anthony Di lorio, another crypto entrepreneur and Ethereum co-founder, has announced that he is “quitting” the industry.

What is the explanation for this? Bloomberg said that this was partly due to personal safety concerns, among other factors.

Since 2017, the 48-year-old Canadian has had a security crew. “I don't feel necessarily safe in this space,” Di lorio added of the crypto business, which has a “risk profile I am not too enthusiastic about.” I believe I would be safer if I concentrated on bigger issues.”

Di lorio stated that he will "sever connections" with the crypto businesses in which he is involved and will not invest in any new blockchain ventures. He, on the other hand, declined to reveal his net worth or cryptocurrency holdings.

In February 2018, Forbes estimated his net worth to be $1 billion, and the price of Ether (Ethereum's currency) has since doubled.

Software development company Decentral, which is the creator of digital asset wallet Jaxx, is one of the assets he hopes to sell. Di Iorio stated that he has already met with possible investors and believes the company will be worth "hundreds of millions of dollars." He's looking for a stock deal, not a crypto deal.

“Instead of becoming a crypto guy, I want to be a guy who solves complicated problems. When crypto is required, I will use it, but this is not always the case. “It's a tiny fraction of what the world requires,” Di Iorio remarked.

The entrepreneur made news in 2018 when he paid $22 million for one of Canada's most expensive condos, the St. Regis Residences Toronto, in part with bitcoin. In 2013, Di lorio co-founded Ethereum. According to the estimate, the market value of ether is already around $225 billion.

Di lorio's remarks are noteworthy since they come just days after Dogecoin co-founder Jackson Palmer criticised the cryptocurrency business and stated that he would not return to it. In a series of tweets, he explained his decision, calling cryptocurrencies "an intrinsically right-wing, hyper-capitalistic technology."

It's "designed largely to multiply the riches of its proponents through a combination of tax avoidance, reduced regulatory supervision, and artificially enforced scarcity," he added.

Palmer, while not the first, is a vocal critic who has refocused attention on the evil side of cryptocurrencies and if it has the capacity to become a legal tender, despite the fact that few governments are headed in that direction.