Former Comptroller Brian Brooks will get a brand new gig as Bitfury CEO

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Former Comptroller of the Currency and Binance.US CEO Brian Brooks has been introduced as the brand new CEO of Crypto (BTC) mining company BitFury.

According to a Nov. 4 announcement from Bitfury, Brooks used to be appointed closing Friday and he’s going to lead the company because it prepares for a brand new investment spherical. Bitfury founder and previous CEO Valery Vavilov will function Chief Vision Officer and the Chairman of the Board of Directors.

“Mr. Brooks will lead the 10-year-old Crypto unicorn because it launches a brand new investment spherical, will increase the expansion of its mining industry with a modern new microchip design and new world information heart places, and scales a portfolio of leading edge companies,” the breathless announcement learn.

Bitfury’s closing investment spherical took place in 2018, when it raised $80 million at a valuation of $1 billion. Vavilov showed to Cointelegraph on Oct. 18 that the company used to be taking into consideration a brand new fundraise by means of a possible preliminary public providing (IPO), however not anything is concrete at this degree.

Prior to this function, Brooks labored at Binance’s U.S. department for a trifling 3 months ahead of resigning in August this 12 months. Many onlookers speculated that the verdict used to be because of prior wisdom about regulatory problems plaguing the company.

Brooks additionally labored as Coinbase’s Chief Legal Officer between 2018 and 2020, and is widespread among the Crypto group because of his strongly pro-crypto stance whilst serving because the Acting Comptroller of the Currency.

During his time on the company between May 2020 to January 2021, Brooks oversaw the enactment of the fintech banking constitution that enabled fintech corporations and Crypto firms to provide lending and cost merchandise with out oversight from state banking regulators.

Related: Cipher Mining splashes $350M on next-gen Bitcoin mining rigs from Bitfury

“Brian is a revered govt and idea chief with deep regulatory, virtual asset and capital markets experience who stocks Bitfury’s imaginative and prescient for a decentralized peer-to-peer economic system,” Vavilov mentioned.

Bitfury used to be established in 2011 and is likely one of the greatest firms within the Blockchain sector. It operates cell information facilities and gives quite a lot of services and products akin to Crypto mining {hardware} design, instrument and synthetic intelligence merchandise.

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