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Former Comptroller Brian Brooks gets a new gig as Bitfury CEO

Former Comptroller of the Foreign money and Binance.US CEO Brian Brooks has been introduced as the brand new CEO of crypto (BTC) mining agency BitFury.

In response to a Nov. 4 announcement from Bitfury, Brooks was appointed final Friday and he’ll lead the agency because it prepares for a brand new funding spherical. Bitfury founder and former CEO Valery Vavilov will function Chief Imaginative and prescient Officer and the Chairman of the Board of Administrators.

“Mr. Brooks will lead the 10-year-old crypto unicorn because it launches a brand new funding spherical, will increase the expansion of its mining enterprise with a revolutionary new microchip design and new international information middle places, and scales a portfolio of modern companies,” the breathless announcement learn.

Bitfury’s final funding spherical occurred in 2018, when it raised $80 million at a valuation of $1 billion. Vavilov confirmed to Cointelegraph on Oct. 18 that the agency was contemplating a brand new fundraise by way of a possible preliminary public providing (IPO), however nothing is concrete at this stage.

Previous to this position, Brooks labored at Binance’s U.S. department for a mere three months earlier than resigning in August this yr. Many onlookers speculated that the choice was as a result of prior data about regulatory points plaguing the agency.

Brooks additionally labored as Coinbase’s Chief Authorized Officer between 2018 and 2020, and is well-liked amongst the crypto neighborhood as a result of his strongly pro-crypto stance whereas serving because the Performing Comptroller of the Foreign money.

Throughout his time on the company between Could 2020 to January 2021, Brooks oversaw the enactment of the fintech banking constitution that enabled fintech companies and crypto firms to supply lending and fee merchandise with out oversight from state banking regulators.

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

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

Bitfury was established in 2011 and is among the largest firms within the blockchain sector. It operates cell information facilities and supplies a variety of providers similar to crypto mining {hardware} design, software program and synthetic intelligence merchandise.

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