Forbes List 2021: Crypto Billionaires Show Bullish Presence
- The cumulative value of these crypto tycoons stands at over $55.1 billion, as disclosed by Forbes. The figure stands taller than the capitalization of Ripple (XRP).
- Each of these crypto billionaires has a net worth of no less than $2.9 billion. Six of the seven digital tycoons are entirely newcomers to the Forbes List.
- Out of these seven, Bankman-Fried has an approximate net worth of $22.5 billion, more than the combined capitalization of Litecoin and Bitcoin Cash.
- There is only one veteran of the seven who is not new to Forbes’ elite list, with three of these billionaires clocking under 40.
Sam Bankman-Fried Banks Biggest
Sam Bankman-Fried, FTX founder and Alameda researcher, dominated the list as the richest crypto mogul. His company, FTX, almost doubled his previous estimated worth. SBF’s company is valued at around $18 billion, and has most of his $22.5 billion wealth linked to FTT token and equity at FTX.
According to CoinGecko, FTX is responsible for daily spot volume transaction processes of about $2.4 billion, and $10.5 billion in daily derivatives volume.
Brian Armstrong Comes Strong at 2nd
Notable US crypto exchange, Coinbase, contributed to Armstrong’s fortune. The cryptocurrency mogul owns about 19% stakes at Coinbase and is valued at $11.5 billion. Even though his fortune is just about half of SBF’s, it is roughly the market cap of Algorand.
Chris Larsen Creates Ripples
Chris Larsen, co-founder of Ripple, made it to the list as the sole crypto veteran. Ripple skyrocketed in value, amidst lawsuits from the US SEC. His assets jumped 122% from $2.7 billion to $6 billion within a year. Larsen is the only crypto billionaire to have been featured on Forbes List before.
Cameron and Tyler Winklevoss Twinkle with Gemini
The Winklevoss twins, founders of crypto exchange Gemini, each have a net worth of $4.3 billion. The Forbes List newcomers graced the cover of Forbes 2021 World’s Billionaire Magazine, April Issue. The cover page went on to sell as an NFT at $33,333 with the title “Merchants of the Metaverses.”
Fred Ehrsam sits at the helm of affairs at Paradigm. He was a co-founder at Coinbase before leaving in 2017 to serve on the board. Ehrsam’s net worth is $3.5 billion.
Jed McCaleb is the seventh digital currency billionaire on Forbes list this year. He has a net worth of $3 billion. McCaleb made his riches from co-founding Ripple and Mt. Gox, a defunct Bitcoin exchange platform. His fortune comes majorly from his XRP stakes.
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