Itās been a wild period for the world of cryptocurrencies, from the Elon Musk-fueled ascent of Dogecoin, to Web3 innovations and non-fungible tokens (NFTs), to the wild swings in Bitcoin and other crypto tokens.
Amid all the action, thereās also no shortage of money to be made in the $2 trillion crypto economy. Just ask the record 19 billionaires 7 more than last year who made their money from cryptocurrency and blockchain technology.
Newcomers to the list include the founders of Web3 infrastructure company Alchemy and the founders of OpenSea, a marketplace for nonfungible tokens. The three richest on the listāChangpeng Zhao and Brian Armstrong all helm cryptocurrency exchanges.
1. Changpeng Zhao
Net worth: $65 billion
Source of wealth: Binance
Citizenship: Canada
Cryptoās richest person, Binance founder and CEO āCZā is the 19th richest person in the world.Ā estimates that he owns at least 70% of Binance, the leading global platform for crypto trading. Last year, the companyĀ reportedlyĀ facilitated about two-thirds of all trading volume handled by centralized changes, generating estimated revenue north of $16 billion. Based on those estimates,Ā its been raised evaluation of CZās wealth from $1.9 billion last year. The 44-year-old also holds a small chunk of Bitcoin and an undisclosed amount of BNB, Binanceās native token.
2. Brian Armstrong
Net worth: $6.6 billion
Source of wealth: Coinbase
Citizenship: U.S.
The CEO and founder of Coinbase took the crypto exchange public through a direct listing in April 2021 at a stunning $100 billion valuation. Its market capitalization is about half that today, still good enough to make Armstrongāwith his 19% stakeāthe third wealthiest person in crypto. A recognizable figure for his plain T-shirts and bald pate, Armstrong raised eyebrows in 2020 afterĀ demandingĀ his employees to refrain from political discussion at work. In January, the 39-year-old dropped $133 million on a Bel-Air mansion, one of the cityās priciest home transactions to date. More recently, Armstrong has beenĀ advocatingĀ against the EU Parliamentās proposed crypto legislation.
3. Chris Larsen
Net worth: $4.3 billion
Source of wealth: Ripple
Citizenship: U.S
The cofounder and executive chairman of blockchain company Ripple, whose XRP token is currently the 8th largest cryptocurrency, Larsen has kept busy fighting against a Securities and Exchange Commission lawsuitāfirstĀ filedĀ in December 2020āthat alleges Rippleās initial coin offering was an unlawful offer and sale of unregistered securities. Still winding its way through federal courts, the case is perceived by many crypto watchers as a landmark one for future token sales. Larsen and Ripple have denied wrongdoing. Separate from his legal challenges, the 61-year-old Larsen has partnered with climate groups to launch a campaignāāChange the Code, Not the Climateāāto pressure the Bitcoin community to reduce the digital assetās heavy carbon footprint.
4. Cameron Winklevoss and Tyler Winklevoss
Net worth: $4 billion each
Source of wealth: Bitcoin
Citizenship: U.S.
The twin brothersābest known as Mark Zuckerbergās college nemeses (as immortalized in Hollywood filmĀ The Social Network)āhave turned their $65 million settlement with Zuck into digital gold, amassing crypto fortunes of roughly $4 billion apiece. The siblings, who began buying bitcoin in 2012, have since diversified their digital assets portfolios, acquiring other cryptocurrencies and launching crypto exchange Gemini. The duo also own digital art auction platform Nifty Gateway, a beneficiary of last yearās NFT craze (and the target of a lawsuit filed by art collector Amir Soleymani in October 2021, who accused the platform of changing its terms of sale; Nifty Gateway alleges Soleymani owes them $650,000).
5. Jed McCaleb
Net worth: $2.5 billion
Source of wealth: Ripple, Stellar
Citizenship: U.S.
McCaleb made most of his fortune from Ripple Labs and XRP, the payments-focused cryptocurrency project he cofounded in 2012; McCaleb left the project in 2013 after a falling out with Larsen and other team members. Since then, McCaleb has sold much of his XRP in periodic increments, adhering to a 2014 separation agreement he struck with Ripple Labs. Heās the founder and chief technology officer of cryptocurrency Stellar.