The five richest people in crypto own a total net worth exceeding $100 billion, according to a trader's research.
What Happened: The list includes:
- Vitalik Buterin, Ethereum (CRYPTO: ETH) co-founder, has a net worth exceeding $1.2 billion. He started by writing crypto articles, but his failed attempts to create complex smart contracts led him to focus on Ethereum.
- Andrew Kang, Mechanism Capital co-founder, is also an avid market commentator and predicts that Ethereum could drop to $2,400.
- Brian Armstrong, Coinbase (NASDAQ:COIN) CEO, did not commence his career in cryptocurrency but went on to create Coinbase.
- Changpeng Zhao, former Binance (CRYPTO: BNB) CEO. Zhao had rough years initially but went on to create a special system for placing trading orders on the exchange as part of his project at NYSE.
- Sam Bankman Fried, former FTX CEO, was sentenced to over 20 years in prison and lost his entire fortune.
Also Read: Bitcoin, Ethereum And Other Crypto-related Thefts Soar To $1.38B In First Half Of 2024, Almost Double Compared To Last Year: Report
Why It Matters: The researcher noted that these crypto billionaires have managed to earn their fortunes by working hard, starting with almost nothing in their pockets. He added that these people have a much better understanding of the market, and their opinions are worth listening to.
While two of the billionaires on the list have been charged with fraud and wrongdoings, their strategies and market knowledge have helped them achieve this status.
What's Next: These topics are expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.
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