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Coinbase CEO tops blockchain billionaires list

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The CEOs of Coinbase, FTX and Binance led the blockchain billionaires list final yr because the cryptocurrency market recorded large positive factors

The heads of cryptocurrency exchanges Coinbase, FTX and Binance have been named the wealthiest folks within the blockchain area. According to the Hurun Report’s 2020 Global Rich List revealed earlier this week, there are 17 blockchain billionaires.

Blockchain billionaires are people who made their cash from cryptocurrency exchanges, investing in cryptocurrencies or mining them. Amongst the 17 blockchain billionaires, 11 are new to the list as they made their fortune within the present bull cycle, which started final yr.

Coinbase CEO Brian Armstrong tops the list, with an estimated internet price of roughly $11.5 billion. Coinbase is likely one of the prime digital forex exchanges globally and is getting ready to go public quickly.

He is adopted carefully by the CEO of FTX, Sam Bankman-Fried, with an estimated internet price of $10 billion. The CEO of Binance, Changpeng Zhao, got here in third and is price round $8 billion. These three run among the main cryptocurrency exchanges on the planet.

A notable absence from the list is Bitcoin founder Satoshi Nakamoto. Satoshi is price round $50 billion and may have taken the primary spot. However, Hurun defined that Satoshi couldn’t be on the list since his id stays unknown.

Some of the notable new entrants within the blockchain area embrace; the Winklevoss twins tied in seventh place, price round $2.8 billion and co-founder of MicroStrategy, Michael Saylor, price roughly $2.4 billion.

The remaining billionaires on the list embrace; Chris Larsen ($5.1 billion), Jed McCaleb ($3.2 billion), Barry Silbert ($3 billion), Matthew Roszak ($2.4 billion), Li Lin ($2 billion), Tim Draper ($1.9 billion), Zhan Ketuan ($1.8 billion), Xu Mingxing ($1.7 billion), Michael Novogratz ($1.7 billion), Brad Garlinghouse ($1.4 billion) and Dan Morehead ($1.1 billion).

The cryptocurrency market added a whole lot of billions of {dollars} to its market cap as Bitcoin, Ethereum and several other different cryptocurrencies raced to new all-time highs. The rising variety of customers within the crypto area meant excessive transaction volumes and report charges for the cryptocurrency exchanges.

Cryptocurrency traders and miners additionally made cash final yr as BTC surged by greater than 400% in 2020. It continued its rally in 2021 and reached a brand new all-time excessive above $58,000 just a few weeks in the past.

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