RICHEST CRYPTO TRADERS

RICHEST CRYPTO TRADERS

Amidst all the activity, the $2 trillion crypto industry offers plenty of opportunities for profit. Just ask the record 19 billionaires 7 more than last year who made their fortunes from cryptocurrencies and blockchain technology, according to Forbes' annual list of the world's billionaires, released Tuesday. The people on this list have made most of their wealth through cryptocurrencies.

Changpang Zhao:
CZ, CEO and founder of Binance, is the 19th richest person in the world and the largest cryptocurrency investor. According to Forbes, he owns at least 70% of Binance, the most popular cryptocurrency trading platform in the world. According to reports, the corporation last year handled more than two-thirds of all trade volume conducted by centralized exchangers, bringing in an estimated $16 billion in revenue. Based on these projections, Forbes now values ​​CZ's assets at $2 billion, an increase from $1.9 billion last year. The 44-year-old also holds a smaller amount of Bitcoin and an unspecified amount of BNB, Binance's native token. Following the previously announced public listing of Forbes, Binance intends to make a significant investment in the parent company that will hold the publication.

Sam Bankman-Fried:
The 30-year-old and his FTX exchange, which received $400 million at a $32 billion valuation in January, are moving from Hong Kong to the more crypto-friendly Bahamas in late 2021. Investors in the field include the Ontario Teachers' Pension Plan Board, venture capital firm Sequoia, buyout firm Thoma Bravo, and cryptocurrency venture capital firm Paradigm (led by Coinbase founder Fred Ehrsam, another crypto millionaire). Investors have reportedly placed an $8 billion valuation on FTX's US businesses. Bankman-Fried, described as an advocate of effective altruism – the utilitarian-inflected idea of ​​doing the greatest good – pledged to give away all of his wealth during his lifetime. It has more than $7 billion in FTT, the platform's native token, and about half of FTX.

Brian Armstrong:
The CEO and creator of Coinbase listed the cryptocurrency exchange directly on the stock market in April 2021, valuing it at a whopping $100 billion. With Armstrong owning a 19% investment in it, his market value is currently around half that amount, making him the third richest crypto investor. Armstrong, known for his plain T-shirts and bald head, raised eyebrows in 2020 when he ordered his employees to avoid political conversations at work. The 39-year-old spent $133 million to buy the Bel-Air home in January, making it one of the most expensive real estate sales in the city. Armstrong recently spoke out against the upcoming crypto law from the European Parliament.

Gary Wang:
The crypto exchange was founded in 2019 by Bankman-Fried and the press-shy Wang, co-founder and CTO of FTX. Wang owns nearly $600 million worth of FTT, the native token of FTX, and a 16% stake in the company's global operations. Wang worked as a software engineer at Google before entering the cryptocurrency industry where he helped create the online travel agency Google Flights. It seems that being part of the MIT alumni has paid off.