Once who were called pioneers or frontrunners are now called achievers. The stories of the richest crypto billionaires are a testament to the transformative power of blockchain technology and the limitless potential of the digital age. In an era where fortunes are made and lost in seconds, a group of entrepreneurs and investors rule the crypto space by amassing billions. This article presents a comprehensive study of the top ten crypto billionaires who redefine the future of finance.
1. Changpeng Zhao
Changpeng Zhao, commonly known as “CZ,” is the co-founder and former Chief Executive Officer of Binance, one of the largest crypto exchanges. As of September 2024, CZ’s net holdings stood at $61 billion, and he remains the 25th richest person globally.
It is noteworthy that the Binance founder’s vast fortune remains unscathed and is even growing despite the legal turmoil. Earlier this year, Zhao faced four months of imprisonment in a Seattle jail after pleading guilty to charges of money laundering. As part of the settlement, he stepped down as Binance’s CEO, paving the way for Richard Teng to succeed him. Despite these challenges, CZ remains the richest crypto person, still holding a 90% stake in Binance.
Binance Founder Changpeng Zhao Freed After 4-Month Sentence2. Brian Armstrong
As per the Forbes report in August 2024, Coinbase CEO Brian Armstrong secures the second position among the world’s richest crypto entrepreneurs. He is estimated to boast more than $11 billion, with the source linked to his crypto exchange. Armstrong founded the company in 2013 with Fred Ehrsam and now holds the platform’s largest individual share, with an 18% stake.
Coinbase’s stock has soared 50% year-to-date, with a staggering three-fold increase since last year. This propelled its market capitalization to nearly $60 billion. Meanwhile, Armstrong has offloaded over $170 million worth of Coinbase shares since November through a predetermined 10b5-1 trading plan.
3. Giancarlo Devasini
Giancarlo Devasini, a former plastic surgeon turned entrepreneur, has made a significant mark in the cryptocurrency space. He is currently the Chief Financial Officer at the crypto exchange Bitfinex and Tether, a stablecoin issuer. Reportedly, he holds more than $9 billion, which he has accumulated from his efforts at Tether. He is probably the largest individual shareholder, with an estimated 47% stake in Tether.
Devasini selected his career in technology after a crucial decision to drop his medical field. He began by importing computer parts and grew to become a successful businessman. Soon after his retirement, he developed an enthusiasm for crypto and connected with Bitfinex’s founder in 2012. Since then, he has remained an important figure in the crypto space, especially contributing to Bitfinex’s expansion.
4. Michael Saylor
MicroStrategy’s Michael Saylor is one of the top ten crypto billionaires, and he has positioned himself as the champion of Bitcoin. He is widely known for his unwavering enthusiasm and advocacy for Bitcoin. His software firm began accumulating the cryptocurrency in August 2020 by purchasing $250 million in Bitcoin. As per records, MicroStrategy now holds nearly 252,000 Bitcoins, with the latest purchase of 7,420 Bitcoins ($458.2 million). Considering Saylor’s personal wealth, he boasts a staggering $4.4 billion linked to MicroStrategy and Bitcoin.
MicroStrategy’s aggressive Bitcoin spree has contributed to the massive 1,620% rise in its stock. With holdings of $16 billion in Bitcoin at MicroStrategy, Saylor envisions transforming the platform into a top “Bitcoin bank.”
5. Paolo Ardoino
Paolo Ardoino, the CEO of Tether, reportedly holds $3.9 billion, which he has earned solely from his platform. Owning 20% of Tether, Ardoino also serves as the Chief Technology Officer at its sister company, Bitfinex. In 2022, he founded Holepunch, an open-source platform for P2P products. In 2023, Tether generated a $6.2 billion profit from the customer collateral interest.
6. Jean-Louis van der Velde
Jean-Louis van der Velde is the former CEO of Tether. As the key figurehead, he is crucial in fostering and maintaining Tether’s critical strategic partnerships with banks and regulatory bodies, ensuring the company’s continued success and compliance. He is estimated to hold 20% of Tether’s shares. Currently, the CEO of Bitfinex, van der Velde, has a profound knowledge of technology and entrepreneurship and 30 years of experience. As per Forbes’ report, he boasts around $3.9 billion in net holdings.
7. Chris Larsen
Chris Larsen, the co-founder of the crypto payment platform Ripple, boasts a net worth of $3.2 billion. Though he stepped down as the company CEO in 2016, he continues to be the executive chairman. According to recent secondary market data, Larsen remains a significant company shareholder. His 18% stake in the firm is valued at a staggering $3.8 billion by investors. In addition to his Ripple stake, Larsen holds a vast hoard of more than 2.8 billion XRP tokens and boasts a cash and investment reserve of nearly $1 billion.
8. Fred Ehrsam
Fred Ehrsam, the co-founder of Coinbase, boasts $3.2 billion in net holdings. Though he left the company in 2017, he remains to be a prominent part of Coinbase, owning nearly 5% of the stocks. His venture includes founding the investment firm Paradigm, which now holds assets of more than $8 billion under management.
Ripple Partners With Exchanges for RLUSD Stablecoin Launch9. Matthew Roszak
Matthew Roszak is an early investor in Bitcoin, and most of his wealth could be traced back to his initial BTC holdings. As per records, his net worth is valued at around $3.1 billion. His crypto collection is dominated by Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB). His first Bitcoin purchase was in 2010 when Bitcoin traded in its lowest price range. In 2015, he co-founded Bloq, an enterprise blockchain solutions company, with the bitcoin developer Jeff Garzik.
10. Jed McCaleb
Jed McCaleb is one of the early crypto pioneers who founded the first major Bitcoin exchange, Mt. Gox, in 2010. However, he sold it the next year, avoiding a subsequent hack. He later co-founded Ripple in 2012 but was forced to leave the company due to disagreements with fellow founders. He currently holds a staggering net wealth of $2.9 billion, much of which is accumulated from selling a significant portion of the initial 9 billion XRP he received as a Ripple co-founder. He sold the final coins in 2022.
Conclusion
By realizing the vast potential and wealth creation opportunities in the crypto space, these individuals have done a splendid job in the rapidly growing industry. Crypto company founders and executives dominate the top 10 richest crypto whales list. Most of them have accumulated a significant part of their wealth from their initial crypto investments. Their journeys remain as a beacon of inspiration, showcasing the transformative impact of visionary thinking, calculated risk-taking, and entrepreneurial drive.
