Forbes Magazine has published a first ever list of richest people in crypto.
“Our first-ever Crypto Rich list provides a snapshot of a pivotal moment, part of the transparency needed to pull crypto away from its provenance as an unknown currency,” Forbes Media Chief Content Officer Randall Lane said.
Cryptocurrencies are by definition a decentralized, encrypted payment system outside of the traditional global financial system. Crypto tycoons can be both very secretive and openly displaying their wealth.
Forbes explained that because of such low transparency and big fluctuations on cryptocurrency markets, it presented the net worth estimates in ranges, instead of single numbers, which they calculated based on the “estimated holdings of cryptocurrencies (a few provided proof), post-tax profits from trading crypto-assets and stakes in crypto-related businesses.”
Nineteen persons made it into the list.
Ripple founder Chris Larsen is the wealthiest cryptocurrency tycoon, with an estimated net worth of up to $8 billion.
According to Forbes, Joseph Lubin who funded blockchain platform Ethereum, is the second-richest crypto man. He’s worth an estimated $1 to $5 billion.
The 24-year-old creator of Ethereum, Vitalik Buterin, who’s worth between $400 and $500 million, and Cameron and Tyler Winklevoss, who are known for buying into bitcoin back in 2012 and making a fortune, also are on the list.
Interestingly, Forbes did not include Bitcoin’s creator Satoshi Nakamoto, though, Nakamoto is on the traditional Forbes rich list as the 44th richest person in the world.
The reason for this decision may be: No one knows if Nakamoto is still in possession of the original bitcoins and whether it is a singular person or a group of people.
If included, Satoshi Nakamoto would have been worth $19 billion easily becoming the wealthiest of all.
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