With the growing acceptance of cryptocurrency in mainstream culture, seven crypto entrepreneurs and billionaires have been named on the Forbes 2021 list of richest Americans.
The septet comprises three youngest members – Sam Bankman-Fried (29), Brian Armstrong (38) and Fred Ehrsam (33).
The group of crypto billionaires is worth $55 billion collectively. Here’s a look at the crypto billionaires in Forbes list of the 400 richest people in America.
The founder and CEO of cryptocurrency exchange FTX is crypto’s richest billionaire. Sam Bankman-Fried has a net worth of $22.5 billion which doubled with the closure of FTX’s $900-million deal. FTX is valued at $18 billion. Most of Sam Bankman-Fried’s wealth is tied up in FTX’s equity and tokens. According to Forbes, 29-year-old Bankman-Fried is the richest billionaire under 30 since Facebook founder Mark Zuckerberg.
Armstrong is the CEO and co-founder of Coinbase, the largest crypto exchange in the US. His wealth has steadily grown to $11.5 billion after Coinbase made a public debut in April. Armstrong owns 19 percent of the company.
The chairman and co-founder of crypto payment protocol Ripple saw his wealth grow from $2.7 billion last year to $6 billion this year. Larsen is the only crypto billionaire who featured on the Forbes richest list last year.
Cameron and Tyler Winklevoss
The Winklevoss twins are the founders of cryptocurrency exchange Gemini and are each worth $4.3 billion. The two featured in the magazine cover of Forbes 2021 World’s Billionaires April issue which was sold in an auction as a non-fungible token for $333,333.
Ehrsam had co-founded Coinbase with Brian Armstrong in 2012 but left the exchange in 2017. He now leads the crypto-focused investment firm Paradigm and has an estimated net worth is $3.5 billion.
A pioneer in the blockchain space, McCaleb helped launch Ripple, Stellar and Mt. Gox. McCaleb’s wealth, estimated at $3 billion, is mostly aligned to his XRP stake as a Ripple co-founder.
(Edited by : Thomas Abraham)