Bitfury, a blockchain technology firm has added to its board of directors, an investment banker, and a former U.S. Securities and Exchange Commission member to its advisory board. The details have been revealed on an official company blog post on November 21.
Bitfury was founded in 2011 and is the largest non-Chinese company that develops Bitcoin (BTC) blockchain software along with providing infrastructure for BTC mining.
Antoine Dresch is the newly appointed voting member to the Bitfury board of directors, who served as the co-founder of the tech industry-focused private equity (PE) fund Koreyla Capital. According to a Bloomberg executive profile, Dresch has over 20 years of experience in investment banking with giants such as Goldman Sachs, UBS London, and Morgan Stanley.
He oversaw major merger and acquisition (M&A) and Initial Public Offering (IPO) transactions in Europe, while at Morgan Stanley. Following this, he founded Dresch Digital Media Advisory (DDMA) in 2011 to advise European media and internet investors. He has been a partner and co-founder of Paris-based Koreyla Capital – a €200 million ($228.1 million) PE fund, as of 2016.
Annette Nazareth is Bitfury’s new advisory board appointee and is set to provide guidance on regulatory matters in financial markets, as well as advise on company growth.
Nazareth worked on a range of regulatory initiatives as a former SEC Commissioner. Her roles included ‘executing quality disclosure rules, implementing equities decimal pricing, short sale reforms, corporate debt transparency rules and modernization of the national market system.’ She is the head of the Trading and Markets practice at Washington D.C. office of international law firm Davis Polk and Wardwell, alongside her regulatory experience.
Bitfury is considering its own IPO, according to Coin Telegraph report, with sources ‘familiar with the matter’ claiming that the firm is examining a range of options including debt financing or selling a minority stake. The company has allegedly been in contact with global investment banks in regard to its plans.
Bitfury launched a new generation of its BTC mining hardware based on an advanced Application-Specific Integrated Circuit (ASIC) chip called ‘Bitfury Clarke, just before another glabal mining hardware titan, Bitmain of China which launched its own new ASIC.
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