Investing in cryptocurrencies is not as simple as many believe, but it is even more complicated to work with them and become a billionaire in a very short period of time. Here, these 5 people did it, becoming the richest crypto-billionaires in the Web3 industry.
Cryptocurrencies are shaking the market with their volatility that has now become a difficult problem for many traders to manage. The most popular such as Bitcoin and Ethereum have been up and down in recent weeks, with a trend that remains sharply downward without a doubt.
Other digital currencies have also made headlines recently and an example concerns Ripple, which in a few days has gained 55%, although retracing slightly in the last few hours. The price of the latter reached $ 0.557 in a few days, leaving the $ 0.354 threshold behind, but retracing the price of $ 0.502 in the last few hours.
This shows how nervous the market is and how difficult it is to sustain an uptrend in this period in the crypto sector. Even more difficult, is to become a crypto-billionaire.
However, today we present those who are literally browsing in gold thanks to the Web3. They became billionaires within a couple of years, practically coming from a state of strong anonymity.
The top 5 crypto-billionaires
Some names may not come as a surprise, but in this top 5 we can’t deny that many of them found themselves overnight having bank accounts with many zeros. So, who are che crypto-billionaires in the top 5 of the richest in the Web3?
Ripple’s CEO Chris Larsen in position # 5 of crypto-billionaires
This is a name that shouldn’t need any introduction, considering that the Ripple-SEC case is continuing and has made a lot of talk in the industry.
This is Chris Larsen, one of the co-founders and executive director of the Ripple blockchain.
The man sits fifth as the richest man in the digital currency industry, with a proven net worth of $ 4.3 billion.
The case with the SEC is not over yet, but it is one of the top ten cryptocurrencies in the world and it seems that both parties have recently asked the judge for a summary judgment on the case that has gone too long.
FTX, exchange and founders: Gary Wang is # 4
In this ranking we will find more than one name related to this cryptocurrency exchange and we should not be surprised at all.
Speaking of fourth place, the man with a fortune of USD 5.9 billion bears the name of Gary Wang.
He is one of the co-founders of the popular FTX exchange and holds 16% of the company and $ 600 million in FTT, the platform’s native virtual currency.
A graduate of the famous MIT, Wang has also worked for Google and this makes him a man more than deserving of his success, having managed to take FTX so high along with the team and other eminent contributors.
However, don’t be too surprised, because another character, always an integral part of the company, has even earned a better position!
Coinbase CEO Brian Armstrong wins the podium in # 3 place
What binds the desire to earn money of less experienced traders and all the appropriate tools to enter a profitable market like that of cryptocurrencies? A successful exchange like Coinbase.
Brian Armstrong is the founder of Coinbase, co-founded in 2012 after he quit his job as a software engineer at Airbnb. Armstrong has a 19% stake in Coinbase and has earned the bronze medal as a man who became richer thanks to cryptocurrencies.
His project was worth US $ 6.6 billion and we cannot deny that his life has changed considerably in the space of a few years.
Think that less than a year ago he bought a mansion in Bel Air for $ 133 million in cash, the fourth most expensive residential real estate deal ever signed in California, behind only the $ 150 million Bel Air property Lachlan Murdoch bought in 2019, that of $ 165 million Jeff Bezos and the $ 177 million Malibu estate acquired last October by billionaire Marc Andreessen alone.
From Hong Kong to the Bahamas, who’s at # 2?
Here we are back to one of the aforementioned companies: FTX. Gary Wang founded the exchange with Sam Bankman-Fried, the second richest man in the world of cryptocurrencies.
In particular, thanks to the FTX crypto exchange, with which he was able to offer innovative products, even for the highly competitive sector, such as very sophisticated derivatives and contracts for IPOs (Initial Public Offering).
Here the net worth spikes sharply to around USD 24 billion for our Sam Bankman-Fried! Almost 4 times the previous one, detaching a lot from 3rd position.
About 50% of the company belongs to him, along with 7 billion FTTs, and it’s not surprising how wealthy he is.
Who is the richest of all and takes position # 1?
The trading volume of some exchanges is really huge, but none of them have registered one as high as that of Binance.
The CEO of the company, Changpeng Zhao, as well as founder, is one of the richest men in the world and by far the richest thanks to cryptocurrencies.
Binance needs no introduction and, unfortunately for its historical rival Coinbase, it can also register the largest number of cryptocurrencies and derivatives compared to competitors. For those wondering, Changpeng Zhao’s net worth is around USD 65 billion!