The founder of Ethereum announced that he would quit the cryptocurrency industry because he felt unsafe there.

After the hustle and bustle, things will eventually calm down. From the recent years of speculation, to the sharp drop in prices after being banned by many countries, to the announcement of the withdrawal of many cryptocurrency tycoons, the once-fanatical virtual currency is now experiencing a bloody storm, and the prosperity seems to be gone. This situation often occurs in the history of Bitcoin. After the end of the bull market in 2013 and 2017, it entered a bear market stage, and the arrival of the bear market was also due to regulatory factors.

Ethereum founder announces retirement: There is no sense of security here

Ethereum co-founder Anthony Di Iorio said in an interview with the media on July 17 that he would completely withdraw from the cryptocurrency circle and would no longer be involved in the field of cryptocurrency: "It (the cryptocurrency circle) has risk characteristics that I don't like very much." He also said that he is no longer keen on virtual currency and that he feels insecure in this circle.

Bloomberg reported that Di Iulio said he would completely withdraw from the cryptocurrency world and even sell his related technology company Decentral to devote himself to charity full-time in the future, partly for personal security reasons. He hopes to trade in fiat currency or equity in another company, rather than cryptocurrency.

Di Iulio also hopes to sever ties with other virtual currency startups in a timely manner and does not plan to fund any more blockchain projects.

Ethereum was founded in 2013 and has become the second largest virtual currency after Bitcoin, with a market value of approximately $225 billion.

One of the founders of Dogecoin vowed: Never enter the cryptocurrency circle again in this life

Billy Markus, one of the founders of Dogecoin, announced at the end of last month that he would return to the cryptocurrency field. But another founder, Jackson Palmer, criticized encryption technology through social media last week and vowed never to step into the cryptocurrency circle again in his life.

On July 15, Palmer said on social media: "I am often asked if I will 'return to virtual currency'. My answer is 'no'. The reason is that after years of research, I believe that the main purpose of virtual currency is to amplify the wealth of its supporters through a combination of tax avoidance, regulatory evasion and artificially enforced scarcity."

Palmer pointed out that despite its claims of decentralization, the virtual currency industry is still controlled by a powerful cartel of wealthy people. The virtual currency industry is using improper business relationships, buying off influential people and the media, and continuing a cult-style get-rich-quick pipeline designed to extract new funds from naive people.

Interestingly, Marcus responded to Palmer's point by saying, "Basically correct."

Palmer and Marcus co-founded Dogecoin in 2013. Dogecoin has become popular this year and is currently one of the top 10 cryptocurrencies by market value, even more well-known than most mainstream currencies.

Because of Musk's unremitting support, the price of Dogecoin has soared since the beginning of the year, with a peak increase of 74 times to $0.74, and once topped the list of price increases of major exchanges. After that, it fell all the way to $0.17, and the recent trading volume was only $1 billion. What is interesting about its previous transactions is that despite the soaring price of Dogecoin, Marcus and Palmer did not profit from it because they had sold all their Dogecoins before the big rise.

China's richest Bitcoin investor Li Xiaolai: Bitcoin is a scam

Not only foreign currency tycoons, but also Li Xiaolai, known as China's richest Bitcoiner, chose to sell when the price of Bitcoin soared to 380,000 yuan. He bought it in 2011 and held more than 100,000 coins by 2017. This investment made him earn 13.5 billion yuan!

After completely withdrawing from the cryptocurrency circle, Li Xiaolai publicly stated that Bitcoin is a complete scam.

Li Xiaolai once publicly stated that he had no faith in Bitcoin and hoped that people could escape from it as soon as possible. He even wrote a book, "Self-cultivation of Leeks", and talked about the topic of "cutting leeks" in the program without any hesitation, saying that many star projects in the currency circle are actually air coins.

Regarding the excessive speculation in the virtual currency market, Warren Buffett once criticized it as "rat poison", saying it is not an investment but gambling.

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