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Forbes magazine has come out with its first list of cryptocurrency billionaires.
The list comprises a wide array of players within the cryptocurrency ecosystem.
Developers and founders of trading exchanges, which oil the wheels of the crypto ecosystem, are members of the list as are big-name investors and financiers.
As expected, the list is reflective of the secretive and opaque world of cryptocurrencies.
The list is also indicative of the relatively nascent nature of the industry and includes individuals who founded companies and coins less than a year ago, but are considered billionaires today based on market valuations and trading volumes.
Chris Larsen, co-founder of Ripple, was ranked as the wealthiest man in cryptocurrencies with an estimated net worth of $7.5 billion to $8 billion. A majority of his wealth is tied up in XRP, Ripple’s cryptocurrency.
Larsen is estimated to hold 5.19 billion XRP and became one of the world’s richest men, ahead of Facebook founder Mark Zuckerberg, when XRP’s price surged at the end of 2017.
Ethereum co-founder Joseph Lubin takes the second spot with a net worth of $1 billion to $5 billion.
Changpeng Zhao, the Tokyo-based founder of Binance – the hottest new exchange in town, is ranked third, with wealth estimated between $1.1 billion and $2 billion. Binance was launched in July 2017 and has already racked up 6 million users and $7.5 million in commission fees (as of December 2017).
Cameron and Tyler Winklevoss, who recently became the first known billionaires in bitcoin, and Matthew Mellon, heir to the banking dynasty, rounded out the top five, with an estimated net worth of $900 million to $1 billion.
Below is the full list of Forbes 2018 Crypto Richest:
Chris Larsen, Co-founder of Ripple: $7.5 to $8 billion
Joseph Lubin, Co-founder of Ethereum: $1 billion to $1.5 billion
Changpeng Zhao, CEO of Binance: $1.1 billion to $2 billion
Cameron and Tyler Winklevoss, Co-founders of Gemini: $900 million to $1.1 billion
Matthew Mellon, Individual investor: $900 million to $1 billion
Brian Armstrong, CEO of Coinbase: $900 million to $1 billion
Matthew Roszak, Co-founder of Bloq: $900 million to $1 billion
Anthony Di Iorio, Co-founder of Ethereum: $750 million to $1 billion
Brock Pierce, Chairman of Bitcoin Foundation: $700 million to $1 billion
Michael Novogratz, CEO of Galaxy Digital: $700 million to $1 billion
Brendan Blumer, CEO of Block.one: $600 million to $700 million
Dan Larimer, CTO in Block.one: $600 million to $700 million
Valery Vavilov, CEO of Bitfury: $500 million to $700 million
Charles Hoskinson, Co-founder of Ethereum and IOHK (Cardano): $500 million to $600 million
Brad Garlinghouse, CEO of Ripple: $400 million to $500 million
Barry Silbert, CEO of Digital Currency Group: $400 million to $500 million
Vitalik Buterin, Creator of Ethereum: $400 million to $500 million.