The cryptocurrency has launched new names on Forbes' list of the 400 richest people in America. Specifically, 6 new names have entered the list of the richest people in America. In total, 7 crypto billionaire names joined the 400 Forbes 2021. This is the first time that 7 billionaires who got rich through cryptocurrency in the US will appear as the richest people in the nation.
7 crypto billionaires on Forbes 2021 list of richest Americans
The 7 crypto billionaires on Forbes' list of America's 400 richest people include Coinbase founders Brian Armstrong and Fred Ehrsam. Others are FTX's Sam Bankman-Fried, the Winklevoss twins - Tyler and Cameron, Ripple's Jed McCaleb, and Ripple's co-founder Chris Larsen. Chris Larsen is not a new name on the Forbes list among other crypto billionaires. Larsen made it back on the list after his net worth jumped more than 2 times from $ 2,7 billion in 2020 to $ 6 billion in 2021. Despite the ongoing legal battle between Ripple and the SEC, the XRP token is skyrocketed. Recall that to invest in XRP and other cryptocurrencies, it is necessary to use reliable platforms such as Bitcoin system.
Armstrong owns approximately 19% of Coinbase and its net worth is $ 11,5 billion. Cameron and Tyler Winklevoss' net worth is $ 4,3 billion each, while Ehrsam's net worth is $ 3,5 billion. McCaleb has the lowest net worth of all 7 crypto billionaires, estimated at $ 3 billion. Most of the billionaire's wealth can be tied to his stake in XRP as a co-founder of Ripple.
In total, the crypto billionaires on Forbes' list for 2021 are worth $ 55,1 billion. Of the total estimate, $ 22,5 billion belongs to Bankman-Fried. The CEO of FTX is the richest person in cryptocurrencies, having built one of the largest trading platforms in the industry in two years. Bankman-Fried's trading platforms process around $ 13,8 billion per day. FTX raised $ 900 million in a Series B fundraiser in July, marking the largest venture capital funding round in cryptocurrency to date, with a valuation of $ 18 billion.
Crypto billionaires are rising amid the growing interest in cryptocurrencies among investors
The rise in the number of crypto billionaires is due to the growing interest of institutional and retail investors in cryptocurrencies. At the same time, there has been significant growth in several crypto assets over the past year. Since Forbes released the 2020 list for billionaires in America, the price of Bitcoin has increased from $ 10.128 to $ 50.078. Additionally, the second-largest cryptocurrency by market capitalization, ETH, has grown by more than 1.000 percent over the span of a year. The crypto asset has continued to reap gains since it first surpassed the $ 1 trillion market cap to reach a market valuation of $ 2,4 trillion in May.