People who got rich thanks to crypto
Updated: 5 days ago
Author: Marie Gerland
Date of Publication: 27/09/2022
The world of cryptocurrencies is changing quickly. Indeed, new cryptocurrencies appear regularly. In fact, people are increasingly investing in cryptocurrencies. In 2020, it was the first time that someone from the cryptocurrency world appeared in the rankings of the wealthiest. This person is Chris Larsen. Actually, in 2021, they were 7 in the Forbes 400 ranking, representing $55.1 billion. They are often young, ambitious and have taken the risk of speculation. Therefore, we are going to discover a few people who got rich thanks to the cryptocurrencies market.
1. Changpeng Zhao: The richest man in the cryptocurrency world
Changpeng is the founder of the exchange platform Binance. Binance has quickly become the number one trading platform. Indeed in 2021, Binance generated $20 billion in revenue. Therefore, thanks to Binance, Changpeng Zhao became in 2021, the 5th largest fortune in the world in the field of cryptocurrencies. Also in 2022, he reached the 1st fortune in cryptocurrencies. More broadly, the founder of Binance is the 19th wealthiest person in the world. However, its wealth isn’t limited to Binance. In fact, Changpeng Zhao also holds Binance Coins and Bitcoins. Nowadays, his net worth is estimated at $65 billion.
2. Sam Bankman-Fried: A cryptocurrency genius
Sam Bankman-Fried, for his part, has a fortune estimated to $24 billion. Specifically, this fortune comes from FTX. In particular, FTX is a cryptocurrency exchange platform in The Bahamas. At the beginning of 2022, there were more than 1 million people using the FTX platform. Sam Bankman-Fried created FTX in 2019, when he finished his studies at Massachusetts Institute of Technology (MIT). Only 2 years after its creation, FTX attracted $900 million of capital. Currently, Sam Bankman-Fried holds half of the FTX platform and $7 billion of FTT (FTX Token).
3. Brian Armstrong: Coinbase founder
The Coinbase founder is named Brian Armstrong. Indeed, he created Coinbase in 2012 and thanks to this platform, he made it quite easy to buy Bitcoins. It is a platform that is considered accessible to beginners. Moreover, Brian Armstrong took Coinbase public in 2021. At this moment, the exchange platform was valued at $85 billion. Currently, Brian Armstrong has a 19% stake in Coinbase. And his net fortune is up to $11.5 billion. Moreover, Brian Armstrong wished to be philanthropic. So, he decided in 2018 to create GiveCrypto. GiveCrypto enables cryptocurrency owners to make donations for people living in poverty.
4. Chris Larsen: The 1st actor of the cryptocurrency world among the most fortunate
Chris Larsen has a fortune of $6 billion. Actually he is the first cryptocurrency player to appear in the ranking of the wealthiest. He entered this ranking because he is the founder of Ripple.In particular, Ripple is a cryptocurrency exchange platform that helps improve interbank funds transfers. Moreover, XRP, which is the Ripple token, is the 8th cryptocurrency in the world. However, in 2020, the SEC (Securities and Exchange Commission) launched an investigation into Ripple. This investigation is still in progress. The SEC accuses Ripple of illegally issuing XRP.
5. Cameron et Tyler Winklevoss: Zuckerberg’s enemies
Cameron and Tyler Winklevoss are called Mark Zuckerberg’s enemies. Indeed, they say they came up with the idea for Facebook. Yet they accuse Mark Zuckerberg of stealing the idea when they were at Harvard. They sued him and an out-of-court settlement was reached in 2009. With the money they received thanks to the settlement, they invested in Bitcoins in 2012. Moreover, the twin brothers have launched their exchange platform, called Gemini. These days Gemini records $300 million in transactions per day. Thus, the brothers have a fortune of $4 billion each.
Through this article we discovered people that became rich thanks to cryptocurrencies. However, there is no need to work in cryptocurrencies to become a billionaire. Indeed, some have become rich by investing in cryptocurrencies. Actually, it is the case of Erik Finman who invested $1,000 in Bitcoins in 2011 and he is now a millionaire thanks to cryptocurrencies.