Crypto billionaires are people who have amassed more than $1 billion in net worth through cryptocurrency businesses or through cryptocurrency investments. What sets them apart is the courage they have shown in taking risks in an emerging sector that is plagued by many challenges, including extreme volatility and regulatory uncertainty.
Cryptocurrency Market Boom in 2024
2024 has been a remarkable year for the cryptocurrency market, with a staggering 99.4% growth since the start of the year. This growth came as the political climate in the United States became more favorable for the industry and Bitcoin hit the $100,000 mark. Experts predict even higher growth in the coming years. With this progress, many crypto entrepreneurs have seen a significant increase in their wealth.
Changpeng Zhao
Changpeng Zhao, founder of the Binance exchange, is the richest cryptocurrency billionaire, with a net worth of $65.4 billion. Zhao's journey into the world of cryptocurrency began after gaining experience at companies like Bloomberg and Blockchain.com. He founded Binance in 2017 and quickly became one of the largest cryptocurrency exchanges globally.
Despite facing legal trouble this year, including a four-month prison sentence and a $50 million fine for violating U.S. banking laws, Zhao was released in September and remains a highly influential figure in the cryptocurrency industry.
Brian Armstrong
With a net worth of $12.1 billion, Brian Armstrong, co-founder of the popular cryptocurrency exchange Coinbase, remains at number two on the list. He was a software engineer early in his career. He worked for several major tech companies, including IBM and Airbnb. His fortunes changed when he co-founded Coinbase in 2012. In mid-2021, his company was listed on the Nasdaq stock exchange. With a trading volume of $2,236,072,410, Coinbase remains the largest cryptocurrency exchange in the United States.
Giancarlo Devasini
Giancarlo Devasini, co-founder of Bitfinex and Tether, ranked third on the list, with a net worth of over $9.2 billion. Devasini's fortune is largely tied to his stakes in Tether (the third-largest cryptocurrency by market capitalization) and Bitfinex, a leading exchange. He is believed to own over 47% of Tether, which plays a significant role in his massive fortune.
Michael Saylor
Michael Saylor, co-founder of MicroStrategy, ranked fourth with a net worth of $9 billion. Saylor is known for his aggressive Bitcoin buying strategy, which paid off as Bitcoin's value skyrocketed in 2024. MicroStrategy currently holds more than 444,000 Bitcoins, making it the world's largest Bitcoin holder. Saylor's 9.9% stake in the company has also continued to increase in value along with Bitcoin's rise.
Chris Larsen
Chris Larsen, co-founder of Ripple Labs, ranked fifth with a net worth of $8 billion. Ripple's XRP token, the fourth-largest cryptocurrency by market capitalization.
XRP plays a central role in Larsen’s wealth. Ripple remains a leader in blockchain-based payment solutions, and the company’s success has contributed significantly to Larsen’s net worth.
Fred Ehrsam
With a net worth of $3.4 billion, Ethereum co-founder Fred Ehrsam comes in at number six on the list. Ehrsam, who started his career as a trader at Goldman Sachs’ foreign exchange division, actually began his crypto journey when he co-founded Coinbase in 2012.
In 2017, he left Coinbase to found crypto venture capital firm Paradigm, which reportedly has over $8 billion in assets under management (AUM) in projects like Uniswap and Flashbots.
Barry Silbert
Barry Silbert, founder of Digital Currency Group, takes the seventh spot with a net worth of $3.2 billion. Silbert, a former investment banker, played a key role in the early adoption of Bitcoin through his investment vehicle BIT. His company, Digital Currency Group, has become a major player in the cryptocurrency investment space.
Jed McCaleb
Jed McCaleb, a key figure behind Mt. Gox, Ripple, and Stellar, ranked eighth with a net worth of $2.9 billion. McCaleb was involved in Mt. Gox, the first major Bitcoin exchange, before moving to Ripple as a co-founder. After leaving Ripple in 2014, he created Stellar, a Ripple competitor. His initial sale of 9 billion XRP tokens helped increase his fortune.
Winklevoss twins
Cameron and Tyler Winklevoss, the famous twins behind the Gemini exchange, have a net worth of $2.7 billion. The twins rose to fame in 2009 for their lawsuit against Mark Zuckerberg, accusing him of stealing their idea for Facebook. They received a $65 million settlement, which they invested in Bitcoin.
The brothers then founded the Gemini exchange and made Gemini one of the largest exchanges in the United States. The growth of Gemini helped increase their wealth.
Devin Finzer
Devin Finzer, co-founder of OpenSea, holds the tenth spot with a net worth of $2.2 billion. Finzer entered the crypto world in 2017 when he launched OpenSea, a popular NFT marketplace.
OpenSea has seen strong growth in 2021. OpenSea's success has helped Finzer join the ranks of top crypto billionaires.
The Future of Crypto Billionaires
With the cryptocurrency industry poised for even greater growth in the coming years, we could see more billionaires emerging through innovative projects and investments. Names like Alex Atallah, Kim Hyoung-Nyon, Nikil Viswanathan, and Joe Lau are making waves right now and could soon join the list of top cryptocurrency billionaires.