Top 5 Billionaires with Cryptocurrency Mindset
New York City: It has been a tumultuous year for the world of cryptocurrencies, from the Elon Musk-fueled ascension of Dogecoin to the Web3 breakthroughs and non-fungible tokens (NFTs), as well as the wild swings in Bitcoin and other crypto tokens’ prices.
In addition to all the excitement, there is also a significant amount of money to be earned within the context of the $2 trillion cryptocurrency industry.
These billionaires got their money from cryptocurrencies and the technology behind blockchains :
1. Changpeng Zhao
“CZ,” the founder and CEO of Binance, is now the wealthiest person in the cryptocurrency industry and the 19th richest person in the planet. According to estimates provided by Forbes, he controls at least 70 percent of Binance, which is the most prominent worldwide platform for cryptocurrency trading. According to recent reports, the corporation was responsible for facilitating about two-thirds of the total trading volume that was managed by centralized changes in 2017, resulting in an expected income of more than $16 billion. Forbes has increased its estimation of CZ’s worth from $1.9 billion in the previous year based on these calculations, which were published in the magazine. Additionally, the 44-year-old holder of a minor amount of Bitcoin and an undetermined quantity of BNB, Binance’s native currency, has these assets in his possession. After Forbes completes its previously-announced deal to become a publicly traded business, Binance intends to make a significant investment in the parent company that will hold Forbes.
2. Sam Bankman-Fried
Late in 2021, the 30-year-old man and his cryptocurrency exchange, FTX, which had previously raised $400 million in January with a value of $32 billion, relocated from Hong Kong to the more cryptocurrency-friendly Bahamas. Among the investors in the new company are the Ontario Teachers’ Pension Plan Board, the venture capital firm Sequoia, the buyout firm Thoma Bravo, and the crypto venture capital shop Paradigm, which was founded by Coinbase’s creator Fred Ehrsam, who is also a crypto millionaire. The current valuation of FTX’s activities in the United States by investors came in at $8 billion. Bankman-Fried, a self-proclaimed follower of effective altruism, which is the idea of doing the greatest good possible and has utilitarian undertones, has made a commitment to donate his entire wealth over the course of his lifetime. He is the owner of around half of FTX as well as more than $7 billion worth of FTT, which is the platform’s native cryptocurrency.
3. Mr. Brian Armstrong
In April 2021, the Chief Executive Officer and Founder of Coinbase took the cryptocurrency exchange public by means of a straight listing at a staggering value of $100 billion. Even if its market valuation is just around half of what it was back then, Armstrong is still the third richest person in the cryptocurrency industry because to the 19% stake he has in the company. Armstrong, a recognized character known for his unadorned T-shirts and bald head, raised eyebrows in the year 2020 when he demanded that his staff abstain from political conversation while they were on the job. One of the most expensive real estate deals ever completed in the city of Bel-Air was completed in January by a buyer who was 39 years old and spent $133 million for a house there. More recently, Armstrong has been lobbying against a new piece of crypto legislation being considered by the EU Parliament.
4. Saylor, Michael
Saylor, who was once worth a billion dollars at the height of the dot-com boom, had his fortune dwindle as a result of the collapse of the dot-com industry and the fallout from an accounting scandal. Then Saylor found out about Bitcoin, and ever since then, he has been turning his firm into a Bitcoin proxy and buying it up whenever it drops in price. In addition to that, he has been using loans to purchase further Bitcoin.
5. Barry Silbert
Silbert is the creator of Digital Currency Group, which has led to the development of a comprehensive cryptocurrency industry. Both Grayscale, which oversees the management of $28 billion in cryptocurrency assets, and CoinDesk, a prominent website covering cryptocurrency news and events, are owned by the same business. Through its subsidiaries, DCG has made investments in more than 200 different crypto firms. Prior to the advent of bitcoin, Silbert parted ways with his stock trading company, Second Market, and sold it to Nasdaq in 2015 for an unknown sum