# Mike Silagadze

> Mike Silagadze is the co-founder and former CEO of Top Hat and the co-founder and CEO of ether.fi. A University of Waterloo electrical engineering graduate, he built Top Hat from a shared apartment into an education software business with 500 employees by 2021, then moved into crypto through Gadze Finance and ether.fi. He is based in George Town, Cayman Islands.

- **Role:** Co-founder and CEO at ether.fi
- **Organizations:** ether.fi, Top Hat, Gadze Finance, Ripple Ventures (joined as venture partner in 2021), Miovision Technologies (early employee)
- **Nationality:** Canadian
- **Education:** Bachelor of Applied Science in Electrical Engineering, University of Waterloo
- **Known for:** Co-founded Top Hat and led it for more than a decade; in February 2021 he described a team of 500., Co-recipient with Mohsen Shahini of Waterloo Engineering’s 2020 Team Alumni Achievement Medal., Led Top Hat through the $55 million Series D announcement in 2020 and the $130 million Series E announcement in 2021.

## Career timeline

- **2007** — Graduated from the University of Waterloo in electrical engineering.
- **2009** — Co-founded Top Hat with Mohsen Shahini; its first office was their shared apartment.
- **2011** — Began buying Bitcoin, according to his later interviews.
- **2020** — Received Waterloo’s Team Alumni Achievement Medal with Shahini; Top Hat announced a $55 million Series D round.
- **2021** — Handed the Top Hat CEO role to Joe Rohrlich while retaining a board role at the transition; joined Ripple Ventures as a venture partner.
- **2021** — Launched Gadze Finance with Andrew McGrath; the initial fund began with $25 million under management.
- **2022** — Began building ether.fi in December, according to his June 2024 interview.
- **2023** — ether.fi announced $5.3 million in funding in February.
- **2024** — Discussed expanding ether.fi from staking into vaults and consumer spending.
- **2026** — Led ether.fi as its app expanded into trading, borrowing, transfers and everyday financial administration.

## Achievements

- Co-founded Top Hat and led it for more than a decade; in February 2021 he described a team of 500.
- Co-recipient with Mohsen Shahini of Waterloo Engineering’s 2020 Team Alumni Achievement Medal.
- Led Top Hat through the $55 million Series D announcement in 2020 and the $130 million Series E announcement in 2021.
- Co-founded ether.fi, which announced $5.3 million in funding in February 2023.

## Latest updates

- **2026-10** — On October 15, ether.fi introduced account and card statements, transaction exports and proof-of-ownership letters for personal and business accounts.
- **2026-08** — The August 13 summer release combined tokenized trading, Aave-based borrowing, fiat payment rails and a redesigned app; ether.fi reported more than half a million members and a $2 billion annual transaction run-rate.

## Links

- Website: https://ether.fi/
- LinkedIn: https://www.linkedin.com/in/ethermike/
- Twitter/X: https://x.com/MikeSilagadze

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Profile page: https://yespress.io/mike-silagadze
Published by YesPress — https://yespress.io
Last updated: 2026-10-23