There’s a lot of money in the crypto industry, that’s for sure. And we are at a stage where there are projects that are so advanced that their creators have already reaped the benefits. And then there is bitcoin. Early adopters and believers, extremely long-time hodlers, are sitting on a fortune. But who made the most money?
An extremely difficult question to answer. The pseudonymous nature of blockchain technology makes requests like this a huge task. There are wallets that nobody knows who they belong to and that contain thousands of coins. There are billionaires who have announced investments, but no one knows which wallets they own. Not everyone in the crypto industry is a public figure. Not everyone in the room wants attention.
Related reading | Ethereum Foundation Vitalik Buterin talks about ETH inflation rate
With this in mind, the Coin Bureau’s YouTube channel launched an investigation and came to credible conclusions. If we can agree that the list is for entertainment purposes and that it is heavily westernized, then we can have fun with it. So let’s do that.
Who Are The Six Richest People In The Crypto Industry?
To make this fair, the Coin Bureau focused on people who hold most of their assets in cryptocurrencies. That makes people like Coinbase’s Brian Armstrong and MicroStrategy’s Michael Saylor ineligible as the majority of their assets are tied to their companies. It also discards all billionaires who have a small percentage of their wealth in crypto.
Now that the rules are clear, let’s get into that.
6.- Tim Draper and Max Keizer
Tied to number five, two very different Bitcoin believers.
Tim Draper: This venture capital investor made the purchase of his life when he acquired all of the bitcoin confiscated from the dark web marketplace Silk Road. “The US Marshall Service auctioned 30,000 BTC, which ended up in Tim’s wallet for $ 19 million.” These are now worth nearly $ 1 billion. Draper is not part of the crypto industry, but it also holds Bitcoin Cash, XRP, and Tezos to practice diversification.
Max Keizer: This broadcaster and filmmaker is the reason many people around the world know about Bitcoin. One Early Believer: “In a 2013 episode of the Keyser Report, Max announced that he had become a Bitcoin millionaire.” According to calculations by the Coin Bureau, this means that it held 25,000 BTC. Assuming he kept buying and buying a modest 5K more, his holdings are now worth $ 1 billion.
5.- Vitalik Buterin:
The Ethereum co-founder starred in a public Twitter battle previously covered by NewsBTC. “Vitalik’s Ethereum wallet address has been known since late 2018 when he shared it on Twitter in response to criticism of Ethereum’s pre-mine.” This key figure in the crypto industry now holds 334,000 ETH, which is around 1.5 billion at today’s prices US dollars.
4.- The Winklevoss Broders
It is common knowledge that the Winklevoss twins invested part of their Facebook agreement in a then-new idea. The story goes as follows: “While on vacation in Ibiza in 2013, Tyler and Cameron found out about Bitcoin and then decided to buy 1% of all BTC in circulation.” With that, they founded the Gemini exchange, a key component of the crypto industry. Coin Bureau estimates that each twin owns “between $ 2-3 billion in cryptocurrency, mostly Bitcoin.”
3.- Chris Larsen
One of the crypto industry’s biggest criticisms of Ripple is the incredible amounts of XRP that its founders and organization own. Well, “the third largest crypto billionaire is Ripple co-founder Chris Larsen, who holds between 5.2 and 7.8 billion XRP.”
It’s worth noting that “Any XRP awarded to the founders of Ripple will be subject to a vesting plan that will last until 2026, provided the SEC is unsuccessful in its trial against Ripple. In which case, Chis’ XRP will be legally unsalable. ” So far it looks different. And the market seems to be supporting this turn.
2. Sam Bankman-Fried
Did you know that FTX’s Sam Bankman-Fried was in talks with Binance’s CZ to jointly fund an exchange before either of the two made it big? True story. Well, Bankman-Fried is the “Founder of Alameda Research and the FTX Cryptocurrency Exchange”.
Alameda Research made more money than God in an arbitrage trade. They found that there was a premium hidden in Bitcoin prices in Japan. They bought in the US, sold them in Japan, and made history. And a fortune. After that, “the FTX derivatives exchange is Sam’s second venture and has become one of the most popular crypto exchanges since it was founded in 2019.”
As an important part of the crypto industry, he helped launch very successful crypto projects through FTX. Plus, they have their own coin that has been valued over time. Coin Bureau says, “Sam’s exact cryptocurrency holdings are unknown, I estimate it to be between $ 5 billion and $ 10 billion.”
BNB price chart on FTX | Source: BNB/USDT on TradingView.com
1.- Changpeng Zhao
Although CZ’s net worth is “trading at around $ 2 billion,” the Coin Bureau has researched and made some controversial assumptions. First of all, after attending a crypto conference, “CZ then decided to sell its Shanghai apartment and go all-in on Bitcoin. If my calculations are correct, that got him between 50 and 100,000 BTC. ”
The bureau uncovered a few articles where CZ said that he likes to keep his wealth in crypto assets, so they assume he is still holding onto them. Years later, when Binance launched their own coin, 40% of the initial minting of 100 million BNBs was allocated to the founding team. Here, too, the Bureau assumes that he still has them: “At today’s prices, CZ’s BNB stocks alone could easily exceed $ 10 billion.”
Related reading | Changpeng Zhao argues super bullish for Binance Coin
And that’s her list. Do you think they forgot someone in the crypto industry? Aren’t there any bigger whales in China? Are all of these people little potatoes compared to Satoshi Nakamoto himself? Let’s just take the list as a starting point and build on it.
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