Top 10 crypto whales on Wall Street
There are a number of things that can affect the stability of the crypto market, some of which include government regulations, demarketing, and scarcity. And there is something else that can potentially manipulate the value of cryptocurrencies as much as its adoption: Cryptocurrency Whales.
A cryptocurrency whale, popularly known as a “crypto whale,” is jargon typically used to describe individuals or entities that hold substantial amounts of cryptocurrency.
These people hold enough cryptocurrency to be able to cause wild swings in the crypto market and, at the same time, set the tone for market trends. In fact, this is precisely why the crypto community and investors are keeping a very close eye on crypto whales, as they could muddy the seas for all.
That said, below are the top 10 crypto whales on Wall Street that you should watch as an investor in the crypto market.
10. Tim Draper: $1.2 billion net worth
Tim Draper is a billionaire scion of Silicon Valley royalty and founding partner of venture capital firm Draper Fisher Jurvetson. His grandfather, William Henry Draper Jr., was a pioneer in the venture capital industry in California.
Draper has made hundreds of venture capital investments in companies such as Tesla (NASDAQ 🙂 and Theranos and made a fortune investing in cryptocurrencies.
He is a leading spokesperson for blockchains, ICOs and cryptocurrencies, having won the US Marshall Bitcoin auction in 2014 and invested in over 50 crypto companies. He has also led investment rounds in various crypto startups, including Coinbase (NASDAQ:), Ledger, Tezos, and Bancor, among others. He currently has a net worth of $1.2 billion, according to Forbes.
9. Matthew Roszak: $1.4 billion net worth
Matthew Roszak, an entrepreneur with a Bachelor of Arts/Economics from Lake Forest College, previously worked as a venture capitalist and in private equity with Advent International before starting to build a cryptocurrency portfolio in 2012. Roszak is popular today as a successful cryptocurrency investor. and is the current president of the Bloq.
In 2015, he and Bitcoin developer Jeff Garzik founded Bloq, a blockchain technology startup that consults on projects such as helping banks store digital assets. More so, he recently co-led an initiative to give every member of Congress $50 worth of digital assets; although this was welcomed by some members of congress, others resisted the move.
Additionally, Roszak is known for producing the first-ever cryptocurrency documentary, The Rise and Rise of Bitcoin, and has been featured by TEDx, CNBC, Bloomberg, Financial Times, and quoted by The Wall Street Journal among others. reputable sources of information. As of this writing, Roszak has a net worth of $1.4 billion, according to Forbes.
8. Michael Saylor: $1.6 billion net worth
Michael Saylor is an American entrepreneur and business executive. In 1989, he co-founded MicroStrategy, a company that provides business intelligence, mobile software, and cloud-based services. More than two decades later, Saylor still runs the company, which now boasts of being the largest Bitcoin custodian.
As you’d expect, Saylor was the main driver of MicroStrategy’s investment in cryptocurrencies, initially injecting over $200 million in Bitcoin as a Treasury reserve asset. As of May 2022, the company has spent around $3.965 billion buying Bitcoin at an average purchase price of around $30,700 per Bitcoin.
The 57-year-old American entrepreneur is also the author of the book The Mobile Wave: How Mobile Intelligence Will Change Everything in 2012. He is also the sole trustee of Saylor Academy and currently has a net worth of $1.6 billion. , according to Forbes.
7. Jed McCaleb: $2.1 billion net worth
Jed McCaleb is the co-founder and chief architect of the Stellar Development Foundation, an open network that connects the global financial infrastructure.
Jed became an early pioneer of decentralized systems and blockchain technology with the creation of edonkey2000, which later paved the way for the creation of Mt. Gox, the first Bitcoin exchange. He is also co-founder of .
McCaleb’s 3.4 billion XRP, which remains from the $9 billion he got as a founder of Ripple, makes up the majority of his wealth. According to Forbes, he is currently worth $2.1 billion.
6. Brian Armstrong: $2.4 billion net worth
Brian Armstrong is the CEO and co-founder of the world’s leading digital currency exchange, Coinbase, with over 40 million users worldwide. Coinbase generated over $1 billion in revenue in 2020, a 136% increase from 2019.
The 39-year-old American business executive co-founded Coinbase in June 2012 and was later listed as a Fortune 40 under 40 and Recode 100 in 2017.
Prior to founding Coinbase, Brian worked as a software engineer at Airbnb from 2011-2012 in the hospitality market, focusing on fraud prevention. Prior to Airbnb, he worked as a developer for IBM (NYSE 🙂 and consultant at Deloitte.
He currently holds three degrees from Rice University: a bachelor’s degree in computer science, a bachelor’s degree in economics, and a master’s degree in computer science, and he has a net worth of $2.4 billion, according to Forbes.
5. Chris Larsen: $3 billion net worth
Chri Larsen is an American investor and former CEO of Ripple who is famous for co-founding several Ѕісоn Vаllеy start-ups, most of which are very successful.
In 2012, he co-founded Ripple to facilitate international payments for banks using blockchain technology. Ripple relies on a common shared ledger, which is a distributed database storing information about all Ripple accounts. Ledger uses its native cryptocurrency, XRP.
Larsen owns 17% of the company that created Ripple, which, on the other hand, controls 61% of the global supply of XRP coins. He also holds an additional 5.19 billion XRP as a personal stake and currently has a net worth of $3 billion, according to Forbes.
4. Barry Silbert: $3.2 billion net worth
Barry Silbert is the founder and CEO of venture capital firm Digital Currency Group (DCG), which describes itself as “the epicenter of the bitcoin and blockchain industry.”
The company has invested in numerous crypto and blockchain projects with over 50 investments in 15 countries. Notable projects that have received funding from the company include Brave Software, Coinbase, Ledger, Ripple, Zcash, and many more. It’s fair to say that Silbert has an eye for winning projects
In 2014, Silbert founded SecondMarket, which was later named a Technology Pioneer by the World Economic Forum at its 2010 convention in Davos. The 43-year-old self-made billionaire eventually sold SecondMarket in 2015 to NASDAQ, which still operates the company as NASDAQ Private Market.
At the time of writing, Silbert has a net worth of $3.2 billion, according to Forbes.
3. The Winklevoss Twins: Net worth of $3.2 billion (each)
Tyler Winklevoss and Cameron Winklevoss, commonly referred to as the “Winklevoss Twins,” are former Olympic rowers, entrepreneurs, and cryptocurrency billionaires. They are co-founders of cryptocurrency exchange Gemini with Tyler as CEO and Cameron as chairman.
Before founding Gemini, the Winklevoss twins made headlines after winning a $65 million settlement for their 2004 lawsuit against Facebook (NASDAQ:), which claimed Facebook ripped off their idea. The twins then invested in Bitcoin and later founded the cryptocurrency exchange Gemini.
The duo have since gone on to form investment firm Winklevoss Capital, which partners with start-ups to provide investment with a full-service approach to driving growth.
At the time of writing, their net worth has changed a lot with the rise and fall of crypto. The twins still own around 70,000 Bitcoin, in addition to other digital assets. So far, they have a combined net worth of $6.4 billion, split evenly according to Forbes.
2. Changpeng Zhao: net worth of $17.4 billion
Changpeng Zhao’s interest in cryptocurrencies started as early as 2014 when he was playing a game of poker with his friend. Since then, he has become one of the major powerhouses in the crypto world, standing strong as the founder of the world’s largest crypto exchange, Binance.
While commendable, CZ, as it is popularly known, has proven to be a point of reference for many since the birth of the company in 2017. Notably, Zhao has succeeded in transforming the company into the largest and one of the most valuable exchange platforms. for crypto trading in a matter of months.
Binance made Zhao a billionaire in just 180 days. And at the time of writing, CZ has a net worth of $17.4 billion, according to Forbes.
1. Sam Bankman-Fried: $20.1 billion net worth
Young, innovative and brilliant, Sam Bankman-Fried is an American entrepreneur, billionaire and investor. He is the founder of FTX, one of the largest and fastest growing digital asset exchanges in the world, which calls itself “built by traders, for traders”.
Specifically, FTX offers innovative products including derivatives, options, volatility products, and leveraged tokens. Prior to founding FTX, Bankman-Fried traded international ETFs at Jane Street Capital, a proprietary trading firm, immediately after which he founded Alameda Research, a quantitative trading firm.
FTX was valued at $18 billion in 2021, making Sam one of the richest people under 30 in history. Sam, however, says he plans to give away much of his fortune. He currently has a net worth of $20.1 billion, according to Forbes.
So these are the best-placed cryptocurrency whales that could huff and puff the market. It’s also important to keep in mind that around 40% of the Bitcoins in circulation are owned by just a thousand of these whales, which means they hold huge amounts of it.
If you wonder if a crypto whale can be dangerous, much depends on what it chooses to do with its funds. For example, if a whale chooses to manipulate the market solely for its own benefit, that can be a big dilemma, but it can also be beneficial, depending on the path it chooses.
Ultimately, the decision to trade is up to you and your risk appetite, your expertise in that market, and the allocation of your investment portfolio.
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Top 10 Crypto Whales On Wall Street By DailyCoin
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