Brian Brooks, a former Head of the Comptroller of the Currency and ex-chief of Binance.US, has joined cryptocurrency mining firm Bitfury as CEO, the Financial Times reports. Brooks will replace Valery Vavilov, Bitfury's founder, who has also been serving as the company's lead since 2011. On the role, Brooks will reportedly be responsible for new projects from the Amsterdam-based company.
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"The exchange business is currently profitable, but not necessarily innovation," Brooks noted.
The appointment comes as Bitfury is expanding cryptocurrency mining centers around the globe. The company is reportedly also gearing up for a funding round in the next 11 months. While no official comments have been made on the matter, Bitfury — according to reports — has selected Deloitte to advise with its plains.
Bitfury, which is currently valued at around $1 billion, would also be seeking a "much higher valuation" before listing. The likely price tag is set at the "billions of pounds."
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