If a newbie in the crypto-world would read or hear the statement “Wen Lambo?”, it can definitely prompt a “what?” moment. Understanding this crypto linggo somehow means ”when will Lamborghini come?” and when the crypto enthusiast would be rich enough to buy one.
Is it really possible to get rich in crypto? Let this list of Billionaires, given by Forbes, inspire those who would like to see their own “Wen Lambo?” manifestation. The list is arranged according to their ranking.
Binance has been one of the most used apps for crypto enthusiasts and traders in the Philippines. The CEO of Binance, Changpeng Zhao, 44, is on the top of the list. With a net worth $65 billion, solely earned from managing and overseeing Binance. As of Forbes, he only has 70% share from Binance. This makes Zhao the 19th richest person in the world.
Sam Bankman-Fried, 30, Founder and CEO of FTX, who is now residing in the Bahamas together with his team, has a net worth of $24 billion. Interesting fact about Bankman-Fried is that he is willing to give away what he earned to help out other people and will continue to do so to help more. He owns half of FTX.
Third on the list is Brian Armstrong, 39, founder and CEO of Coinbase—one of the most used crypto trading platforms and e-wallet in the US. Despite his plain shirt get-up, his net worth is ₱345.7 billion based on Forbes’ computation and his 19% stake with Coinbase.
Gary Wang, American, cofounder and chief technology officer of FTX, has a net worth of ₱309 billion based on his 16% stake with FTX. This MIT graduate worked with Google as a software engineer prior to founding FTX with Sam Bankman-Fried.
Chris Larsen, American, co-founder and executive chairman of blockchain company Ripple, whose XRP token is currently the 6th largest cryptocurrency on CoinGecko. Larsen has kept busy fighting against a Securities and Exchange Commission (SEC), in the US, lawsuit–first filed in December 2020–that alleges Ripple’s initial coin offering was an unlawful offer and sale of unregistered securities. Larsen partnered with climate groups to launch a campaign to pressure the Bitcoin community to reduce the digital asset’s heavy carbon footprint. His net worth is at $4.3 billion.
Cameron Winklevoss and Tyler Winklevoss
Has anyone watched “The Social Network”? Twin brothers, Cameron and Tyler Winklevoss, 40, American, founders of Winklevoss Capital Management and Gemini cryptocurrency exchange, may be considered the archenemies of Meta founder, Mark Zuckerberg. The settlement they received from Zuckerberg, worth $65 million, was converted to Bitcoin and they now both have a net worth of $4 billion each.
Song Chi-hyung, South Korean, founder of South Korea’s leading crypto exchange, Upbit, has cashed in on South Korea’s booming, $46 billion crypto market. He is estimated to own about a quarter of Upbit’s parent company, Dunamu, which was valued at $17 billion last November when Hybe, the agency behind K-pop sensation BTS, bought a 2.5% stake. Qualcomm, the U.S. semiconductor giant, previously held 6% of Dunamu. His net worth is $3.7 billion.
Barry Silbert, American, founder of investment group Digital Currency Group. Has a net worth of $3.2 billion. Prior to crypto, Silbert was an investment banker and entrepreneur who sold stock trading platform Second Market to Nasdaq in 2015 for an undisclosed amount.
Jeb McCaleb, 47, American, made most of his fortune from Ripple Labs and XRP, the payments-focused cryptocurrency project he co-founded in 2012; he left the project in 2013 after a falling out with Larsen and other team members. Since then, he has sold much of his XRP in periodic increments, adhering to a 2014 separation agreement he struck with Ripple Labs. He is the founder and chief technology officer of cryptocurrency Stellar. His net worth is $2.5 Billion.
The rest of Forbes’ top 19 list are:
- Nikil Viswanathan and Joseph Lau, of Alchemy, Net worth: $2.4 billion each
- Devin Finzer and Alex Atallah, of Opensea, Net worth: $2.2 billion
- Fred Ehrsam, of Coinbase, Net worth: $2.1 billion
- Kim Hyoung-nyon, of Upbit, Net worth: $1.9 billion
- Michael Saylor, of MicroStrategy, Net worth:$1.6 billion
- Matthew Roszak, of Bloq Inc., Net worth: $1.4 billion
- Tim Draper, crypto trader, Net worth: $1.2 billion
As we go back to the phrase, “Wen Lambo?” It is a matter of deciding when one will start to build his own business or start up. Crypto is just a means to get to the goal of financial stability or freedom. But at the end of the day, it comes down to deciding when. These individuals spearheaded their own businesses and have shown that it is possible.
This article is published on BitPinas: Top 10 Crypto Billionaires: Who are the Richest in Crypto?
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.