Who Is the Richest Person in The Crypto Industry?

The past year has been challenging for many people. However, some individuals have accumulated and enriched their property despite the crisis period. This year, the Forbes 400 rich list also includes newcomers who are well-known figures in the crypto industry. 

The list includes seven crypto billionaires, six of whom are novices. The total collective value of digital magnets is $55.1 billion. This is more than just the current market capitalization of XRP’s Ripple mark.

About 40% of the money, of which the market capitalization of Bitcoin Cash and Litecoin, belongs to only one person.

Sam Bankman-Fried, founder of Alameda Research and FTX, gained the name of the richest man in the crypto industry. This man has made the most of his property in the last two years during the pandemic.

In this short time, Sam founded one of the largest crypto exchanges in the world. FTX currently handles $2.4 billion daily. It is noteworthy that the stock exchange secured the largest fund in the crypto industry in July.

Another Forbes 400 rookie Coinbase CEO, Brian Armstrong. He has $11.5 billion in assets, which is almost the same as Algorand’s market capitalization. Newcomer cryptocurrencies are Winklevoss twins, who own Coinbase rival twins with a fortune of $4.3 billion.

The list also includes Coinbase co-founders Fred Ehrsam, who co-founded the company with Armstrong in 2012. His fortune is approximately $3.5 billion.

Jed McCaleb, an early cryptocurrency pioneer, has a net worth of $3 billion. Most of the property is owned by XRP as a co-founder of Ripple.

Chris Larsen, the co-founder of Ripple, increased his fortune by 122%. He was listed for $2.7 billion last year, and now his belonging is $6 billion.

The growth of crypto billionaires is due to several important factors: the development of interests and centralized exchanges and companies. The trading industry is expanding and developing day by day. The pandemic has particularly encouraged the involvement of people in the crypto industry. The number of investors and traders and the quality of their activity today are higher than ever.

Conclusion

People who have established themselves in this field have taken risks, and thanks to thoughtful steps, found themselves where they are today. There is no guarantee of anything today, especially in the crypto industry; there is nothing permanent. Processes change in the blink of an eye. The main components and the secret of success in the crypto industry are constant vigilance, timely action, and movement.