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Since the advent ofcryptocurrencies, a select few individuals have become integral players in the space andhave amassed incredible fortunesin the process.

From the founders ofmajor crypto exchanges to basic investors and hedge funds that have been on the right side of the fence, these individuals have all struck it rich through their involvement with cryptocurrencies.

The industry has introduced some fundamental changes to the concept of wealth creation, offering ordinary individuals opportunities to amass unparalleled fortunes in a relatively short amount of time.

Whether through investing in early digital currencies like bitcoin (BTC) andethereum(ETH) or through launching their own successfulblockchain-based platforms, these crypto millionaires and billionaires have reshaped the financial landscape and have become influential figures in the industry.

This article delves into the backgrounds, stories, and meteoric rises to wealth of 11 such individuals who have leveraged the disruptive power of cryptocurrencies to secure their place among the worlds elite.

Changpeng Zhao, commonly known as CZ, is a Chinese-Canadian entrepreneur and the founder and CEO ofBinance, the worlds largest cryptocurrency exchangein terms of trading volume.

CZs journey to wealth began in the early 2000s when he startedworking in the tech industry. He held various positions at companies like Bloomberg Tradebook, Fusion Systems, and Blockchain.com. His experience in these roles gave him a deep understanding of trading systems, matching engines, andblockchain technology.

CZs wealth primarily stems from his success with Binance and its affiliated tokens. He founded the company in 2017 and spearheaded it to become one of the most popular and influential cryptocurrency exchanges globally.

Through Binance, CZ introduced binance coin (BNB), which gained widespread adoption as the exchange grew in popularity. BNB has since appreciated significantly in value, further contributing to CZs wealth.

It is important to note that CZs estimated net worth is not publicly available, as Binance is a privately held company. However, Forbes estimatesCZs wealth at $10.2 billion. Some analysts believe that the crypto billionaire is much wealthier, but these claims are nothing more than speculation. The media also declares that the crypto boss was worth $65 billion in 2022 before the crypto meltdown.

Brian Armstrong is an American entrepreneur and the co-founder and CEO ofCoinbase, the largest US-based cryptocurrency exchange.

Prior to Coinbase, Armstrong worked as a software engineer atvarious tech companies, includingIBMand Airbnb. However, it was his involvement with cryptocurrency that paved his way to fortune.

In 2012, Armstrong co-founded Coinbase. Courtesy of its easy-to-use interface androbust security measures, the platform found increasing popularity among both novice and experienced crypto enthusiasts.

Coinbases success has been closely intertwined with the surging popularity of cryptocurrencies, particularly bitcoin. As the value of cryptocurrencies soared, Coinbase benefited from the increased trading volumes, transaction fees, and exchange commissions, all of which contributed to Armstrongs wealth.

Furthermore, Coinbase became the first cryptocurrency exchange to go public. In April 2021, the companys shares werelisted on the Nasdaq stock exchangethrough a direct listing, making Armstrong a billionaire as his stake in the company gained significant value.

According to Forbes, Armstrong is nowworth $3.8 billion. The crypto veterans wealth reached an all-time high of $6.6 billion last year before the crypto market downturn.

Barry Silbert is an American entrepreneur and investor who is best known as the founder and CEO of Digital Currency Group (DCG), aventure capitalfirm focused on the cryptocurrency industry.

Silbert began his career in finance working at the investment banking firm Houlihan Lokey, focusing on distressed debt. In 2004, he founded SecondMarket, an online marketplace for illiquid assets, includingprivatecompany shares.

Silbert recognized the potential of Bitcoin early on and founded the Bitcoin Investment Trust (BIT) in 2013, which offered accredited investors the opportunity toinvest in bitcoin without needing to directly hold the digital currency. BIT became the first publicly traded BTC investment vehicle, and it played a significant role in bringing bitcoin into the mainstream.

In 2015, Silbert rebranded SecondMarket as Digital Currency Group (DCG), expanding the companys focus to include not just Bitcoin but also other cryptocurrencies andblockchain-based technologies.

DCG has since become a major player in the cryptocurrency industry through its diverse portfolio of investments and its subsidiary companies, including Grayscale Investments, Genesis, CoinDesk, and more.

Through his successful ventures in cryptocurrency and blockchain-related investments, Silbert has amassed significant wealth. According to Forbes, Silberts wealth isestimated at $3.2 billion.

Chris Larsen is an American entrepreneur and business executive known for his involvement in the creation of cryptocurrency companies. He co-founded Ripple Labs, the company behind the controversial blockchain-based payment protocol called Ripple.

Ripples XRP cryptocurrencyquickly gained popularity and became one of the largest cryptocurrencies by market capitalization. And through his involvement with Ripple, Larsen accumulated significant wealth.

Forbes has recognized him as one of the richest people in the cryptocurrency industry. At thepeak of XRPs valuein early 2018, Larsens estimated net worth reached $4.6 billion. His current net worth isestimated at $2.6 billion.

Jed McCaleb is an Americanprogrammer and entrepreneur. He is best known as the co-founder and former CTO of Ripple, a digital payment protocol, and the creator of the decentralized cryptocurrency stellar lumen (XLM).

In 2010, McCaleb became interested in Bitcoin and founded the first major Bitcoin exchange, Mt. Gox. The platform grew to handle over 70% of all bitcoin transactions at its peak. However, it faced security issues and was eventually hacked, resulting in the loss of a significant amount of BTC. McCaleb sold Mt. Gox to Mark Karpeles in 2011 and distanced himself from the platform.

Following his experience with Mt. Gox, Jed McCaleb turned his attention to creating a new decentralized cryptocurrency. In 2014, he co-founded Ripple and served as the CTO of Ripple until 2013.

After leaving Ripple, McCaleb focused on creating Stellar. Launched in 2014, the project aims to connect financial institutions and facilitate cross-border transactions for the unbanked population.

Through his ventures, particularly the creation and development of Ripple and Stellar, Jed McCaleb has accumulated a massive fortune. Forbes estimates that he iscurrently worth $2.4 billion.

Devin Finzer is the co-founder of OpenSea, one of the largest marketplaces fornon-fungible tokens(NFTs) and digital assets. OpenSea gained significant popularity with the rise of NFTs, which are unique digital assets verified by blockchain technology.

Prior to OpenSea, Devin Finzer worked as asoftware engineerat Pinterest. He teamed up with Alex Atallah in 2017 to launch OpenSea, which quickly became a prominent platform for buying, selling, and trading NFTs.

The marketplace gained significant attention in 2021 as NFTs became mainstream, attracting high-profile buyers and sellers. OpenSea has also reported billions of dollars in transaction volume on its platform, taking a small commission on each sale.

As a result, Finzer has amassed significant wealth through his role as co-founder of OpenSea. He is currently estimated to have anet worth of $2.2 billion.

Alex Atallah is a technology entrepreneur and another co-founder of OpenSea. Atallah has a diverse background, beginning his career in investment banking atJ.P. Morganbefore co-founding a couple of startups.

He co-founded a mapping technology start-up called Sensopia in 2010, which developed the popular MagicPlan app that allows users to create floor plans usingaugmented reality. The app gained traction and became successful, contributing to Atallahs early success.

In 2017, Atallah shifted his focus to the emerging field of blockchain technology and NFTs. Alongside Devin Finzer, he co-founded OpenSea, which would go on to become theleading marketplace for trading digital assets, particularly NFTs.

The companys success has positioned Atallah as a prominent figure in the NFT space. Similar to Finzer, Atallahs net worth isestimated at $2.2 billion.

Kim Hyoung-Nyon is a well-known South Korean fintechentrepreneur. He is the co-founder and executive vice president of Dunamu, which operates South Koreas dominant cryptocurrency exchange.

Hyoung-nyon launched Dunamu with Song Chi-hyung in 2012. Since then, the company has become the most popular crypto exchange in South Korea and has attracted substantial investment from notable firms, including Kakao Ventures and Altos Ventures.

Through his involvement with Dunamu, Hyoung-Nyon has become one of South Koreas first crypto industry billionaires. Forbes estimates his networth at $1.95 billion.

Nikil Viswanathan and Joe Lau are co-founders of Alchemy, a technology company thatprovides infrastructurefor blockchaindevelopers. They started Alchemy in 2017 with the aim of providing developers with tools and services to builddecentralized applications(dApps) on the blockchain.

Alchemy offers a range of solutions to help developers improve the performance,scalability, and user experience of their dApps. Both Viswanathan and Lau have backgrounds in technology and engineering, and they have been instrumental in driving the growth and success of Alchemy in the blockchain industry.

In February last year, the company raised $200 million at a $10.2 billion valuation, making Viswanathan and Lau billionaires. According to Forbes, Viswanathan and Lau areeach worth $1.8 billion.

The Winklevoss twins, Cameron and Tyler, are American entrepreneurs and investors renowned for their involvement in the early development of Facebookand their significant investments in the cryptocurrency industry.

In 2012, the Winklevoss twins discovered bitcoin and began investing heavily in the coin, purchasing around 1% (approximately 100,000 BTC) of the total circulating supply at that time. This early investment helped them amass a substantial amount of wealth as the value of the coin skyrocketed.

Additionally, Cameron and Tyler Winklevoss co-founded Gemini, a cryptocurrency exchange, in 2014. Gemini has become one of the leading exchanges in the United States. Their involvement in the exchange further contributed to their overall wealth.

Forbes currently estimates theirnet worth at $1.5 billion each. Their net worth reached an all-time high of around $4 billion last year.

Fred Ehrsam is an American entrepreneur and investor known for his involvement in the cryptocurrency industry. He co-founded Coinbase with Brian Armstrong in 2012.

Ehrsams journey toward wealth began when he joined Goldman Sachs as a trader in the firmsforeign exchange (forex) division. However, his interest in cryptocurrencies and blockchain technology led him to leave Goldman Sachs and co-found Coinbase.

Under Ehrsams co-leadership, Coinbase experienced rapid growth and became one of the most prominent players in the cryptocurrency industry. It attracted millions of users and facilitated billions of dollars in cryptocurrency transactions.

While Ehrsam left Coinbase in 2017, he still managed to make a fortune from his involvement in the exchange. According to Forbes, Ehrsam iscurrently worth $1.3 billion.

All in all, the rise of cryptocurrencies has undeniablycreated a new wave of millionaires and billionaires. While they might have earned their fortunes in different ways, they all had something in common: they saw the potential in thisemerging technologyand were willing totake on some risks.

However, its important to note that not everyone who entered the crypto market experienced the same success. Furthermore, thevolatile nature of cryptocurrenciesand theever-changing regulatory landscapemake it essential for potential investors to proceed with caution.

Nonetheless, the stories of these crypto billionaires serve as a testament to the potential for wealth creation that lies within this disruptive technology. As cryptocurrencies continue to evolve and gain mainstream acceptance, there may be more success stories on the horizon.

Before you decide to invest in any cryptocurrency, always make sure to do your own research first.

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Crypto Billionaires: 11 Individuals Who Struck it Crazy Rich with ... - Techopedia