Tag: Wealth

19 Crypto Billionaires Rank among Forbes’ Annual World’s Billionaires List, Increased by 58% from Last Year

by Blockchain News

The number of crypto billionaires increased from twelve in 2020 to nineteen in 2021, according to the Forbes’ Annual World’s Billionaires list. 

In 2021, the 58.3% surge in crypto billionaires was fuelled by Web3 innovations, the exponential growth of non-fungible tokens (NFTs), and the attainment of all-time high (ATH) prices by various cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

The top-three spots are dominated by crypto exchange founders, with Changpeng Zhao “CZ” of Binance taking the helm based on a net worth of $65 billion. CZ is followed by Sam Bankman-Fried, the founder and CEO of FTX, and Brian Armstrong, the founder and CEO of Coinbase, with a net worth of $24 billion and $6.6 billion, respectively. 

Based on Forbes findings, CZ owns 70% of Binance as the 19th richest person globally. Binance dominance in the crypto space continues to be felt, given that it facilitated nearly two-thirds of all trading volume made by centralized exchanges. As a result, generating nearly $16 billion in revenue. 

The newcomers on the crypto billionaire list include Nikil Viswanathan and Joseph Lau, the co-founders of Web3 infrastructure company Alchemy, with a $2.4 billion net worth each. 

The others are Devin Finzer and Alex Atallah, the co-founders of the leading NFT marketplace OpenSea, with a $2.2 billion net worth apiece. 

Some notable names also on the list include Cameron and Tyler Winklevoss of Gemini, Michael Saylor of MicroStrategy, and venture capitalist Tim Draper. 

MicroStrategy, a leading business intelligence firm, has been leading the race in crypto institutional investment. At one time, Saylor opined that MicroStrategy was more inclined towards Bitcoin because it provided the best returns compared to other assets like precious metals, real estate, derivatives, stocks, and government debt.  

Crypto exchange Gemini recently released “The Global State of Crypto Report”. It noted that cryptocurrency reached a tipping point in 2021 because it evolved from a niche investment into a globally established asset class. 

Image source: Shutterstock

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Binance CEO CZ Surpasses Tech Giant, Holding World’s Biggest Crypto Fortune with $96B Net Worth

by Blockchain News

According to the Bloomberg Billionaires Index, Changpeng Zhao, the Chief Executive Officer of Binance cryptocurrency exchange, known on Twitter as ‘CZ’, now enjoys a fortune of $96 billion who has surpassed many tech giants, including Facebook’s Mark Zuckerberg, Google’s founders Larry Page and Sergey Brin and Asia’s richest man Mukesh Ambani.

CZ has been tagged the richest ethnic Chinese person alive on December 2, 2021.

Bloomberg said that CZ’s assets might actually own much more than this, and the calculation does not include his other personal encrypted assets, including bitcoin and his company’s own tokens.

The scale of the exchange has raised 130 times in just one year last year.

Binance exchange, currently the world’s largest virtual currency trading platform for spot and derivatives markets, generated $20 billion in revenue last year.

This is equivalent to three times the revenue of Coinbase Global Inc., a publicly-traded virtual currency trading company in the United States.

Binance said in a statement that “Crypto is still in its growth stage.” and pointed out:

“It is susceptible to higher levels of volatility. Any number you hear one day will be different from a number you hear the next day.”

According to Bloomberg, Binance aims to develop its operation in the United Arab Emirates, CZ met with the royals in Abu Dhabi, who hopes to bring his company to the country.

But Binance has also been subject to regulatory issues. Due to China’s crackdown on cryptocurrencies, Binance has no longer established its headquarters in Hong Kong and put its eyes on France as a likely location of its central operating headquarters.

Binance has also been the subject of warnings from consumers in countries such as the UK, Japan and Germany.

On December 30, 2021, the Ontario Securities Commission (OSC) of Canada reprimanded Binance for having not yet obtained the legal operating qualifications for the province of Ontario while telling users of its trading platform to continue doing business in the country.

Image source: Shutterstock

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Except Gold is liked by Boomers, that wealth, the biggest generational lockup in history, is passing to Millennials who prefer Bitcoin. They move into their time of power in the next 5 years. You’ll see more of them taking leadership roles in society. Allocations will change.

by Willy Woo
Except Gold is liked by Boomers, that wealth, the biggest generational lockup in history, is passing to Millennials who prefer Bitcoin. They move into their time of power in the next 5 years. You’ll see more of them taking leadership roles in society. Allocations will change. https://t.co/Z23Mqh1Mo5

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Believe it or not, there are assets with more volatility than BTC this year that would have destroyed 86% of the wealth you “diversified” into them that are considered by “most experts” to be “risk free safe havens.”

by Michael Saylor
Believe it or not, there are assets with more volatility than BTC this year that would have destroyed 86% of the wealth you “diversified” into them that are considered by “most experts” to be “risk free safe havens.” https://t.co/YnJCUUpSJr

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I always tell everyone I know to put 1% of their wealth in BITCOIN… and I go and put my wealth into unaudited smart contracts named after vegetables that promise yields of 2000%! Follow me for more tips.

by Ran Neuner
I always tell everyone I know to put 1% of their wealth in BITCOIN… and I go and put my wealth into unaudited smart contracts named after vegetables that promise yields of 2000%!

Follow me for more tips.

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Gradually then suddenly, thoughtful investors will realize that the riskiest decision they can make is to ignore or under-allocate to Bitcoin. A decision to invest 1% in BTC is a decision to underperform, increase risk, or destroy wealth in the other 99% of the portfolio.

by Michael Saylor
Gradually then suddenly, thoughtful investors will realize that the riskiest decision they can make is to ignore or under-allocate to #Bitcoin. A decision to invest 1% in #BTC is a decision to underperform, increase risk, or destroy wealth in the other 99% of the portfolio. https://t.co/cEMa6hUhiB

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Renowned Historian Says Bitcoin Is a Great Place for Rich People to Store Their Wealth

by Dailyhodl

Renowned historian and Milbank Family Senior Fellow at the Hoover Institution at Stanford University, Niall Ferguson, says Bitcoin is emerging as a leading and reliable store of wealth. In a new article penned at Bloomberg, Ferguson points to a myriad of well-known investors who are entering the space, including Paul Tudor Jones, Stanley Druckenmiller and […]

The post Renowned Historian Says Bitcoin Is a Great Place for Rich People to Store Their Wealth appeared first on The Daily Hodl.

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Bitcoin (BTC) $ 27,854.46 0.03%
Ethereum (ETH) $ 1,909.92 0.75%
Litecoin (LTC) $ 92.17 0.94%
Bitcoin Cash (BCH) $ 115.15 1.22%