Brawker CEO Cyril Houri Departs in Management Shakeup

CEO Cyril Houri has left bitcoin buying service Brawker following a management shakeup.

AccessTimeIconApr 2, 2015 at 11:31 a.m. UTC
Updated Aug 18, 2021 at 3:48 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

CEO Cyril Houri has left bitcoin buying service Brawker following a management shakeup.

The decentralised platform, which allows bitcoin users to buy "almost anything" online at a discount, is now operated by its two-person development team.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • Speaking to CoinDesk, the serial entrepreneur said the departure – on "very friendly terms" – would give him more time at location technology firm Navizon, which he founded 10 years ago. He added:

    "I am still very interested in the cryptocurrency space and will still keep my eyes open in case I come across another interesting project."

    New development

    Gabriel Majoulet, one of the developers behind Brawker, said that the platform's technology would remain unaltered.

    "We will keep maintaining the product the way it is, and focus our work on what makes it a good product: the multi-signature implementation. It is something that the community wants."

    Unlike other implementations, which split keys on company servers, the two private keys used in Brawker transactions are held by the parties themselves. This, Majoulet says, offers superior security to users, as there is no way Brawker – and, by extension, hackers – can access funds in escrow.

    This week the company also experienced "a chain of unforeseen problems" that interrupted transactions during a migration to a new server. However, the development team insist these issues, which centred around fees, have now been resolved.

    Both Majoulet and Houri denied the outage had any connection to the company's restructuring. Majoulet added: "We will do the support ourselves, we are still learning, but defining new processes today."

    Image via Payments Source.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.