Former Comptroller of the Currency and Binance.United states of america CEO Brian Brooks has been announced as the new CEO of crypto mining firm BitFury.

Co-ordinate to a Th declaration from Bitfury, Brooks was appointed on Oct. 29, and he volition atomic number 82 the business firm equally it prepares for a new funding round. Bitfury founder and sometime CEO Valery Vavilov will serve every bit chief vision officer and the chairman of the board of directors.

"Mr. Brooks volition lead the 10-year-one-time crypto unicorn every bit information technology launches a new funding round, increases the growth of its mining business organisation with a revolutionary new microchip design and new global data center locations, and scales a portfolio of innovative businesses," the breathless proclamation read.

Bitfury'due south final funding circular occurred in 2022 when it raised $80 meg at a valuation of $1 billion. Vavilov confirmed to Cointelegraph on October. 18 that the firm was considering a new fundraise via a potential initial public offering, but nada is concrete at this stage.

Prior to this function, Brooks worked at Binance's United States branch for a mere iii months before resigning in Baronial this year. Many onlookers speculated that the decision was due to prior knowledge about regulatory bug plaguing the business firm.

Brooks also worked equally Coinbase'due south chief legal officer between 2022 and 2022 and is well-liked in the crypto customs due to his strongly pro-crypto stance while serving as the Interim Comptroller of the Currency.

During his time at the agency betwixt May 2022 and Jan 2022, Brooks oversaw the enactment of the fintech cyberbanking lease that enabled fintech firms and crypto companies to offer lending and payment products without oversight from country banking regulators.

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

"Brian is a respected executive and thought leader with deep regulatory, digital nugget and majuscule markets expertise who shares Bitfury'south vision for a decentralized peer-to-peer economy," Vavilov said.

Bitfury was established in 2022 and is i of the largest companies in the blockchain sector. It operates mobile information centers and provides a wide range of services, such as crypto mining hardware pattern, software and artificial intelligence products.