TL; DR Breakdown
- Former Binance US Chief gets appointed to steer Bitfury towards its visions.
- Bitfury has several projects lined up, including an IPO and expansion of other ventures.
Bitfury Group Ltd. has taken in Brian Brooks to replace Valery Vavilov as CEO. He joins the firm during a crucial time. The company wants to develop another funding round. The mining firm also plans on expanding its company with a unique microchip layout.
Founder Bitfury group Valery Vavilov said that Brooks is a sober leader that is respected. He noted that Brooks would help to bring their visions to life with his expertise.
Just recently, Brooks said that he was thrilled that many investors have adopted cryptocurrency. He noted that if he could be at the top of those crypto companies, he would ensure investors’ safety.
Bitfury and its visions
The leading infrastructure provider came to being ten years ago. It holds a top position in blockchain and has a variety of services in the space.
Vavilov said that the leading blockchain company could establish an IPO as they continue advancing into the crypto world. However, the company has not decided on how it will proceed with the IPO. In 2018 Bitfury saw funding that made over $79 million at a $1 billion valuation.
Brooks said that the Amsterdam-based firm has advanced through ranks to lead in the crypto ecosystem. The platform is famous for its evolution attempts, constant study, and powerful exclusive tech.
He added that the adoption of blockchains technology is gaining mainstream acceptance. He noted that the Bitfury portfolio has several components that show it is destined for success. Brooks is excited to steer the firm in the right direction.
Brooks’s job history
Brooks joined Binance US as the CEO at the beginning of May this year. However, the lawyer’s stay at the company was short-lived. He left the digital asset marketplace when regulators in locations globally put stringent regulations on Binance. There were worries over investor protection. He’d been in the position for less than five months. Before joining Binance.US, he was in charge of the Comptroller of the Currency (OCC) Office.
The prominent lawyer has also worked at Coinbase for two years as a Chief Legal Officer. He joined the team in 2018 as the lawyer to streamline and expand their legal, government compliance affairs. Later Brooks served as the Acting Comptroller of the Currency between 2020 and 2021. This position earned him fame in the crypto community since he is a strong supporter of crypto. Valery Vavilov, who has been BitFury CEO for the last ten years, will take the position of Board Chairman. He will also be the chief vision officer.