US Forbes’ richest list includes record number of crypto billionaires
by: Dynasty GI2021-10-11
The latest Forbes US Richest list brings, for the first time ever, seven billionaires who built their fortune through cryptocurrencies, totalling over US$ 55 billion in value.
Almost half of that total belongs to a single man, Sam Bankman-Fried, the 29-year-old CEO of crypto derivatives exchange FTX, which in two years has grown to become a platform now processing US$ 13.8 billion daily, with a current valuation of US$ 18 billion. The other crypto first-timers on the list include Coinbase’s CEO, Brian Armstrong, which made a public markets debut in April with a listing worth US$ 86 billion, his partner at Coinbase, Fred Ehrsam, and Jed McCaleb, the co-founder of Ripple, a business created to facilitate transactions using Blockchain technology. McCaleb is joining his partner at Ripple, Chris Larsen, who first appeared on last year’s Forbes list, when he had a net worth of US$ 2.7 billion. For the current list, Larsen’s net worth is estimated at US$ 6 billion. The remaining two on the list are the owners of Gemini – Coinbase’s rival platform -, Cameron and Tyler Winklevoss, also known for their links to the early stages of development of the social media giant Facebook.
"“It is no surprise we are seeing more crypto world names appearing on lists such as Forbes’, as the sector grows in size and reach. Just like we saw it happening at the beginning of the internet revolution, we will see new entrants transforming the sector and becoming very successful, often at the expense of the complacency by players in the traditional financial sector”, warned the CEO and founder of Dynasty Global Investments AG, Eduardo Carvalho."