Former Comptroller Brian Brooks gets a new gig as Bitfury CEO

Former currency controller and Binance.US CEO Brian Brooks has been announced as the new CEO of cryptocurrency (BTC) mining company BitFury.

According to a November 4 ad from Bitfury, Brooks was appointed last Friday and will lead the company as it prepares for a new round of funding. Bitfury founder and former CEO Valery Vavilov will serve as chief vision officer and chairman of the board of directors.

"Mr. Brooks will lead the 10-year crypto unicorn in launching a new round of funding, increase the growth of its mining business with a revolutionary new microchip design and new global data center locations, and expand a portfolio. of innovative businesses, ”said the breathless ad read.

Bitfury's last round of funding It happened in 2018, when it raised $ 80 million at a valuation of $ 1 billion. Vavilov confirmed to Cointelegraph on October 18 that the company was considering a new fundraiser through a potential initial public offering (OPI), but nothing is concrete at this stage.

Prior to this role, Brooks worked at Binance's US branch for just three months prior. resigning in august this year. Many spectators speculated that the decision was due to prior knowledge of the regulatory problems affecting the company.

Brooks also served as Coinbase's Chief Legal Officer between 2018 and 2020, and is well-liked among the crypto community due to his strongly pro-crypto stance while serving as Acting Comptroller of the Currency.

During his time at the agency between May 2020 and January 2021, Brooks oversaw the enactment of the fintech banking letter which allowed fintech companies and crypto companies to offer loan and payment products without the oversight of state banking regulators.

Related: Cipher Mining Splashes $ 350 Million on Bitfury's Next-Gen Bitcoin Mining Rigs

"Brian is a respected executive and thought leader with deep experience in regulation, digital assets and capital markets who shares Bitfury's vision of a decentralized peer-to-peer economy," said Vavilov.

Bitfury was established in 2011 and is one of the largest companies in the blockchain sector. It operates mobile data centers and provides a wide range of services, such as crypto mining hardware design, software, and artificial intelligence products.