The Richest Crypto And Bitcoin Billionaires In The World 2024

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Quote from: Haunebu on April 05, 2024, 11:47:14 AM

This is just a list of names whose income can be tracked easily. There are many others whose income is difficult to track in different parts of the world which would make this particular elite list even more extravagant.

If BTC and the crypto market keep rising in value over time, this list will keep getting longer while the reverse would happen if BTC and the crypto market keep falling in value.

They are known as crypto billionaires because most of their wealth is earned from the cryptocurrency market. But I believe that once they become rich and diversifying their assets is something they never forget. Even retail investors like us are aware of the risks of the cryptocurrency market, they would not be stupid enough to not be aware of it. So, I believe that those who have become rich through cryptocurrency so far are not sure that all their assets are in cryptocurrency.

Personally I will do that too, after this bull season I will leave only 20% of my assets in crypto, the rest I will invest in traditional businesses and that will bring gives me more security than concentrating my assets entirely in volatile markets like cryptocurrencies.

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Quote from: Plaguedeath on April 04, 2024, 09:17:32 AM

Isn't Satoshi the richest? he own 1 Million coins which worth $73 Billion right now.
~snip~

Satoshi supposedly mined that much (although it's just speculation), but unlike everyone else who might be on that list, he didn't do it to get rich, but because he was the one who had to start the whole thing. Therefore, I wouldn't associate it with potential wealth at all, and that's exactly what makes it as unique as Bitcoin itself.

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Quote from: NotATether on April 04, 2024, 07:31:14 AM

Quote from: zasad@ on April 04, 2024, 06:43:08 AM

4 billion in fines isn't a lot of money to him.

Isn't? Man, it's 33 billion dollars left. But we probably need to put this into normal people's perspective.

Imagine if you have 37 thousand dollars ($37,000). But you are hit with a $4000 fine or some other kind of unforseeen expense, which is very common to happen at least once to people, that's going to leave you with 33,000 dollars left, and if there is no cashflow to replace that lost $4000 quickly, then you are not going to recover that.

Losing money is a big deal to everyone, it's why you have super rich people complaining about losing lots of money on social media.

Also we can't compare billions to thousands of dollars for many reasons. Main problem with them is that when you are talking about $4k, you can talk about fiat money, and when you are talking about $4 billion you are talking about fiat money that tied to something. Liquidation of that money in markets could cause market crash and that could drop your potfolio way more than that 4 billion dollars.

And if that money would be tied to lands, real estates etc, it would mean you would have to pay taxes while liquidating, if their value had risen after you purchased them.

$4000 affects no one but yourself, but 4 Billion starts affecting people around you no matter how you liquidate that.

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SBF net worth was fictional however. We all know what happened. They had this “balanced” sheet where their assets matched their liabilities but their assets were pretty much FTT, remember their made up token?

The reason why FTX failed is because most of their assets were priced in FTT which was highly illiquid. And that’s why CZ decided to sell their FTT and decided not to buy their exchange.

CZ never did that with BNB. He also never spent customers funds.

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A number of these billionaires were early adopters, but they're too few compared to the number of early adopters who could have amassed tens of thousands of Bitcoin at a very cheap price. These early Bitcoin investors stand out today because they hodled unlike the rest. It surely wasn't easy to continue hodling despite Bitcoin hitting one ATH after another, and despite Bitcoin declared dead many times. So, these early investors deserve their spots on that list.

The list could have been entirely different had those early adopters foreseen this era. I'm not in any way dishonoring Laszlo's noble legacy, but he, for example, could have been on that list had those pizzas weren't delivered at all.

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Quote from: Plaguedeath on April 04, 2024, 09:17:32 AM

Isn't Satoshi the richest? he own 1 Million coins which worth $73 Billion right now.

I was thinking the same, i feel like Satoshi should be the N.1 on that list, but since no one knows who is satoshi and he has not intention of moving his coins maybe that was the main reason why he is not on the list.

But Satoshi doesn't only belong to this list, he should be in the top 10 richest men in the world, but again, is like talking about a ghost, maybe satoshi is a group of people, but no one knows.

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I guess the numbers of billionaires will increase higher next year because there are some crypto investors who are still in millionaires but they are close to become billionaires, and they will surely join that category soon .

For all those billionaires to come out to showed their results in public, show that there are some who are still hiding themselves for now until BTC and crypto is legalized in their countries before they can showcase their billions for people to know that they are among the BTC and crypto billionaires.

For someone to reach this level of billionaires, it will take a long years before someone can achieve billions that will make him a billionaires through crypto because the crypto market use to rise every bull season either once in every 3 or 4 years.

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Quote from: zasad@ on April 04, 2024, 06:43:08 AM

4 billion in fines isn't a lot of money to him.

4 billion is a lot because that’s about 13% of his total net worth. And he never expected it and probably had his budget for different plans. But then, I never thought that CZ was that rich. I thought he just had millions. This really shows how well Binance has grown because all his money definitely came from Binance. And they even had enough money to further help countries during Covid and the Ukraine war ( I think).

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CZ is a great man that has dochange because he's going to make something things in the past that makes the United States sue him for money laundering and other offense me that lead to fining him up to 10 billion dollars. In case we don't know, he worth even more than 200 billion if we really wants to find out about that. The 10 billion he paid is just a chicken because he's gone g to make money from his exchange with time. This man has really made money from the United States and he has no option than to compensate the US government.

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This is just a list of names whose income can be tracked easily. There are many others whose income is difficult to track in different parts of the world which would make this particular elite list even more extravagant.

If BTC and the crypto market keep rising in value over time, this list will keep getting longer while the reverse would happen if BTC and the crypto market keep falling in value.

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Quote from: zasad@ on April 04, 2024, 06:43:08 AM

~Snipped

1. Changpeng Zhao
Net worth: $33 billion (vs. $10.5 billion) | Source of wealth: Binance"
__
4 billion in fines isn't a lot of money to him.

If I understand correctly, isn't the 4.6B fined to Binance as the exchange and not directly at CZ?

I think the previous is the case and that might be the reason why Binance has been doing a lot of launchpool projects lately — Give or take, 10 projects in the last 6 months. These are projects that Binance supposedly invested in but did a launchpool as a loophole to list them and give them good prices.

Also, it is my belief that net worth reports are usually inaccurate.

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Quote from: Spaceman1000$ on April 05, 2024, 07:33:07 AM

Quote from: zasad@ on April 04, 2024, 06:43:08 AM

https://www.forbes.com/sites/johnhyatt/2024/04/02/the-richest-crypto-and-bitcoin-billionaires-in-the-world-2024/?sh=1bf1dacb726b

"That’s helped make at least 17 people crypto billionaires, according to Forbes’ 2024 World’s Billionaires list, up from nine crypto billionaires last year. These 17 investors and entrepreneurs are worth a collective $93 billion, between their estimated crypto asset holdings, publicly disclosed stock holdings and private assets. That’s more than double the $37 billion in collective crypto billionaire wealth last year.

For the third year running, Changpeng Zhao, founder and former CEO of crypto exchange Binance, is crypto’s wealthiest person. Despite pleading guilty to U.S. money laundering charges in November, CZ, as he’s known, is now worth an estimated $33 billion, up from $10.5 billion last year. That makes him the biggest crypto gainer in dollar terms since last year and the 50th-wealthiest person in the world. The bulk of his fortune comes from his majority stake in Binance, which remains the industry’s largest global trading venue by volume.

1. Changpeng Zhao
Net worth: $33 billion (vs. $10.5 billion) | Source of wealth: Binance"
__
4 billion in fines isn't a lot of money to him.

Of course given the amount of money he has gained from his initial investment of( $10.5 billion) to an increase in value of $33 billion, $4 billion as a fine, is more like a chicken change to him. The 50th richest person in the world, that's massive for changpeng Zhao. For him leaving Binance as the CEO wasn't too much of a big deal, because he had already built a global brand, Binance is the leading CEX in world at the moment, however he still has his stake in Binance.
Though Ordinary the fine is on the high side, $4 billion is a lot of cash, the judgment was on a harsh side, as the amount for me would have been way lesser, maybe a $100 million.

$100million you say? Do you the severity of charges brought against him and the penalty it would have incurred, had it been CZ isn't rich and capable?
I am certain that CZ has long diversified his portfolio and maybe worth more than what is estimated and even if Binance were to crash like FTX(not hoping for such), CZ will still be more wealthy than a lot of millionaires and billionaires out there.

Could Microstrategy CEO, Michael Saylor not make it to or stand close to the list of Bitcoin billionaires in 2024?

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Quote from: Ale88 on April 04, 2024, 11:48:24 PM

I really don't understand how it's even possible to think that what happened to FTX could happen to Binance: FTX was created as a scam since the beginning, there was a backdoor, everything was planned

Correct.

Quote from: Iranus on April 05, 2024, 12:16:02 AM

CZ's assets are something that even the US government cannot understand, it is strange that some small investors like us can know that what he holds is only BNB and some altcoins. CZ is the creator of Binance, who once sold his house to buy bitcoin...would he be stupid enough to put all his assets into this market, let alone BNB or altcoins?

We can not know and above I only shared an article from Forbes, months ago. I believe CZ did not sell his bitcoins and not store all his asset in BNB tokens.

Quote from: legendbtc on April 05, 2024, 05:38:51 AM

If I remember correctly, since CZ was charged by the US government, and he had to leave Binance.

Do you think CZ still holds the majority of shares in Binance and will the government leave it alone if CZ remains the largest in Binance?

Why not?

CZ was also forced to step down or he proactively did it to avoid bigger troubles for Binance but there is a period for it, 3 years as I remembered. After 3 years, he can return to Binance if there are no other hidden things we have yet known in a plead deal between CZ and DOJI.

Quote

"Defendant Binance has accepted the resignation of Zhao, its CEO, and prohibited him from any present or future involvement in operating or managing Defendant’s business. This prohibition begins as of plea acceptance and ends three years from the date a monitor is appointed," the filing read.

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Quote from: zasad@ on April 04, 2024, 06:43:08 AM

1. Changpeng Zhao
Net worth: $33 billion (vs. $10.5 billion) | Source of wealth: Binance"
__
4 billion in fines isn't a lot of money to him.

You think so? I don't. Wait until you interview him and hear how on the contrary he thinks. $4 billion away from that networth leaves him with $29b. That's more than 10% off his worth. It's a hell of cash, except you're equating it with what price to pay for his freedom.

Quote from: Smartprofit on April 04, 2024, 09:27:29 AM

In fact, I have respect for people who have sold all their real estate, sold all their possessions and invested in Bitcoin.
This is how great fortunes are created. The amount of your wealth is directly proportional to your willingness to take risks.

Well, if one's lucky and gets successful that way one can be thought to be smart. If the reverse happens, one is called stupid. For me, I don't think it's a wise decision to sell all and invest in Bitcoin or any other project/asset. There ought to be something set aside in case it goes sour. It surely does most times, trust me. There's a reason that caveat in this industry that no one should invest what they can't afford to lose exists. That's because there's so much uncertainty in this industry.

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Quote from: zasad@ on April 04, 2024, 06:43:08 AM

https://www.forbes.com/sites/johnhyatt/2024/04/02/the-richest-crypto-and-bitcoin-billionaires-in-the-world-2024/?sh=1bf1dacb726b

"That’s helped make at least 17 people crypto billionaires, according to Forbes’ 2024 World’s Billionaires list, up from nine crypto billionaires last year. These 17 investors and entrepreneurs are worth a collective $93 billion, between their estimated crypto asset holdings, publicly disclosed stock holdings and private assets. That’s more than double the $37 billion in collective crypto billionaire wealth last year.

For the third year running, Changpeng Zhao, founder and former CEO of crypto exchange Binance, is crypto’s wealthiest person. Despite pleading guilty to U.S. money laundering charges in November, CZ, as he’s known, is now worth an estimated $33 billion, up from $10.5 billion last year. That makes him the biggest crypto gainer in dollar terms since last year and the 50th-wealthiest person in the world. The bulk of his fortune comes from his majority stake in Binance, which remains the industry’s largest global trading venue by volume.

1. Changpeng Zhao
Net worth: $33 billion (vs. $10.5 billion) | Source of wealth: Binance"
__
4 billion in fines isn't a lot of money to him.

Of course given the amount of money he has gained from his initial investment of( $10.5 billion) to an increase in value of $33 billion, $4 billion as a fine, is more like a chicken change to him. The 50th richest person in the world, that's massive for changpeng Zhao. For him leaving Binance as the CEO wasn't too much of a big deal, because he had already built a global brand, Binance is the leading CEX in world at the moment, however he still has his stake in Binance.
Though Ordinary the fine is on the high side, $4 billion is a lot of cash, the judgment was on a harsh side, as the amount for me would have been way lesser, maybe a $100 million.

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Quote from: sokani on April 04, 2024, 08:20:10 AM

Quote from: zasad@ on April 04, 2024, 06:43:08 AM

4 billion in fines isn't a lot of money to him.

$4.3 billion dollars fine is actually a pinch of salt, but I thought the money came from Binance's pocket.

Quote from: tranthidung on April 04, 2024, 07:34:00 AM

His wealth will vanish after one night if Binance exchange has a collapse like FTX exchange. I don't wish it to happen for Binance and CZ, and this is an example on risk of wealth built by cryptocurrencies especially altcoins.

If Binance goes bankrupt he'll definitely drop out of ranking among the world's crypto wealthiest persons but his wealth won't varnish. I'm sure he has coins like BTC, ETH, BNB etc that he's holding in his personal wallet and also I want to believe he has invested heavily in other businesses outside crypto. The only way this could happen is if his wealth were confiscated by the government.

If I remember correctly, since CZ was charged by the US government, and he had to leave Binance and the new CEO of binance is now Richard. Additionally, Binance recently established a board of directors and is the first exchange in the world to do so. Do you think CZ still holds the majority of shares in Binance and will the government leave it alone if CZ remains the largest in Binance?

It is naive to think that one can become a billionaire and only hold one type of asset and that is risky assets. Even small investors on this forum are aware of the importance of diversifying investments, would CZ be so naive as to let his assets only be in BTC, BNB and shitcoin?

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Quote from: Ale88 on April 04, 2024, 11:48:24 PM

Quote from: tranthidung on April 04, 2024, 07:34:00 AM

Quote from: zasad@ on April 04, 2024, 06:43:08 AM

1. Changpeng Zhao
Net worth: $33 billion (vs. $10.5 billion) | Source of wealth: Binance"
__
4 billion in fines isn't a lot of money to him.

Most of his wealth is from BNB token, not from Bitcoin. He sold his house to buy bitcoin years ago but now his wealth is mainly from Binance token, BNB.

His wealth will vanish after one night if Binance exchange has a collapse like FTX exchange. I don't wish it to happen for Binance and CZ, and this is an example on risk of wealth built by cryptocurrencies especially altcoins.

Who Is Sam Bankman-Fried?

Quote

Bankman-Fried told New York Times columnist Andrew Ross Sorkin in an article published on Dec. 1, 2022, that the sum of his wealth was $100,000 in a bank account. That balance represents quite a fall, if true. According to Forbes, Bankman-Fried had an estimated peak net worth of $26.5 billion.

I really don't understand how it's even possible to think that what happened to FTX could happen to Binance: FTX was created as a scam since the beginning, there was a backdoor, everything was planned, Binance makes a ton of money every single day thanks to commissions, why should they think to scam their customers? Of course Binance could fail for several reasons but thinking that the richest guy in the crypto world would scam when he already has more money that he could ever spend... What's the point?

Because they are jealous of CZ and Binance, bitcoin maximalists are upset that centralized exchanges and many altcoins are growing and growing. I even believe that if CZ goes to jail or BInance collapses, there will be some people here who will be very happy that their jealousy has finally come true.

CZ's assets are something that even the US government cannot understand, it is strange that some small investors like us can know that what he holds is only BNB and some altcoins. CZ is the creator of Binance, who once sold his house to buy bitcoin...would he be stupid enough to put all his assets into this market, let alone BNB or altcoins?

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Quote from: NotATether on April 04, 2024, 07:31:14 AM

Quote from: zasad@ on April 04, 2024, 06:43:08 AM

4 billion in fines isn't a lot of money to him.

Isn't? Man, it's 33 billion dollars left. But we probably need to put this into normal people's perspective.

Imagine if you have 37 thousand dollars ($37,000). But you are hit with a $4000 fine or some other kind of unforseeen expense, which is very common to happen at least once to people, that's going to leave you with 33,000 dollars left, and if there is no cashflow to replace that lost $4000 quickly, then you are not going to recover that.

Losing money is a big deal to everyone, it's why you have super rich people complaining about losing lots of money on social media.

I disagree with your logic because you are looking from a percentage prospective instead of a total value: losing 90% of your assets worth 1 billion is way different than losing 50% of your assets worth $50k because in the first case you still have several millions left, in the second case you are pretty much broke.

Quote from: tranthidung on April 04, 2024, 07:34:00 AM

Quote from: zasad@ on April 04, 2024, 06:43:08 AM

1. Changpeng Zhao
Net worth: $33 billion (vs. $10.5 billion) | Source of wealth: Binance"
__
4 billion in fines isn't a lot of money to him.

Most of his wealth is from BNB token, not from Bitcoin. He sold his house to buy bitcoin years ago but now his wealth is mainly from Binance token, BNB.

His wealth will vanish after one night if Binance exchange has a collapse like FTX exchange. I don't wish it to happen for Binance and CZ, and this is an example on risk of wealth built by cryptocurrencies especially altcoins.

Who Is Sam Bankman-Fried?

Quote

Bankman-Fried told New York Times columnist Andrew Ross Sorkin in an article published on Dec. 1, 2022, that the sum of his wealth was $100,000 in a bank account. That balance represents quite a fall, if true. According to Forbes, Bankman-Fried had an estimated peak net worth of $26.5 billion.

I really don't understand how it's even possible to think that what happened to FTX could happen to Binance: FTX was created as a scam since the beginning, there was a backdoor, everything was planned, Binance makes a ton of money every single day thanks to commissions, why should they think to scam their customers? Of course Binance could fail for several reasons but thinking that the richest guy in the crypto world would scam when he already has more money that he could ever spend... What's the point?

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When I saw Changpeng Zhao in the article, I said upon all the challenges and the billions he's lost in the course of setting up Binance to the standard and being the number exchange in the world. This is nice. Binance has left many countries and I believed they are not following the local laws and that is why they are having problems with the governments. Well we thanks God that CZ is still among the top 50 cryptocurrency billionaires in the world. People like Elon Musk and the president of El Salvador must be there. And the way I am sensing what is happening in Binance, they might go down because they are violating countries laws and claiming right.

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Quote from: Maus0728 on April 04, 2024, 10:50:15 AM

-snip-
I can agree that losing money is a big deal but got to understand though, it's not really our position to feel bad about CZ paying those fines because he'll probably be able to make it back in a year probably, most of that networth is investments anyway, so there's a guarantee that he'll be able to make it back with those investments.

What is gone then let it be, no need to think more seriously.
Just focusing on the next goal, CZ must have other plans to return the thirsty fine he paid.

Now maybe Binance is entirely handled by Richard Teng, but behind all that CZ is still irreplaceable and Richard Teng only carries out the tasks given by CZ.

CZ will not be as stupid as others say, he has a lot of investment and is even developing his own project at the moment.

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Quote from: NotATether on April 04, 2024, 07:31:14 AM

Isn't? Man, it's 33 billion dollars left. But we probably need to put this into normal people's perspective.

Imagine if you have 37 thousand dollars ($37,000). But you are hit with a $4000 fine or some other kind of unforseeen expense, which is very common to happen at least once to people, that's going to leave you with 33,000 dollars left, and if there is no cashflow to replace that lost $4000 quickly, then you are not going to recover that.

Losing money is a big deal to everyone, it's why you have super rich people complaining about losing lots of money on social media.

An apt comparison but the perspective switch doesn't really hit the home run for me at the least. Especially at the part that you've mentioned about no immediate cashflow, that's not a problem that would be evident with CZ, his billions is probably enough to keep him alive for a lifetime and then again 5 times in a row without the need to work. I can agree that losing money is a big deal but got to understand though, it's not really our position to feel bad about CZ paying those fines because he'll probably be able to make it back in a year probably, most of that networth is investments anyway, so there's a guarantee that he'll be able to make it back with those investments.

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Quote from: retreat on April 04, 2024, 09:33:38 AM

That's still a very high fine, because 4 billion dollars is not a small amount of money, even for someone like Elon Musk himself I doubt that he would be willing to spend that much money on a fine - let alone someone like CZ whose assets are in the form of crypto.
Moreover, CZ must avoid the fine, because if he admits this and is forced to pay the fine, it will indirectly indicate that their platform is involved in the various alleged violations and this will significantly impact their image.

The amount is a very huge amount when we relate it to CZ alone but he is not the only even the one paying this fine directly from his pocket and it wouldn’t hurt him that much. The Binance exchange itself have pleaded guilty and with CZ both will pay the fine and there is no denying or avoiding this fine. Just as your concern CZ already step aside from the company such that it doesn’t dent it and a new CEO was appointed although we know he will be heavily involved. Now the question is, is the 4 billion dollars too heavy on them I will say no because an exchange that has about $25 Trillion volume of crypto assets can overcome this but as we all know no amount is small to lose even for a billionaire.

Come to think of it the way people make millions easily from shit coins (memecoins) this days, binance as one of the big exchanges that drives there narrative can gradually make this back through coins like this, not to talk of there ever growing blockchain network (smart chain), so they will come good eventually.

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I don't think that there's anything good about being a billionaire, but since they exist anyway, having some from the crypto industry is good for balance and for cryptos to be taken as a serious industry. I'm surprised CZ actually has more money now than before. That being said, not everyone on the list made most of their money in cryptos, so looking at net worth of people who are billionaires and are involved in crypto businesses and calling those people 'crypto billionaires' is misleading. For example, the Winklevoss brothers are on the list, but they didn't become billionaires because of Bitcoin, did they?

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Quote from: Smartprofit on April 04, 2024, 09:27:29 AM

In fact, I have respect for people who have sold all their real estate, sold all their possessions and invested in Bitcoin.
This is how great fortunes are created. The amount of your wealth is directly proportional to your willingness to take risks. In addition, intuition and faith are important (by faith I do not mean religious beliefs, but commitment to one’s ideas). The idea that Bitcoin will eventually become the world's reserve currency and its value will exceed $1,000,000 is a bold idea. But people who believed in the prospects of Bitcoin and took appropriate action became rich people.
Bitcoin is one of the most amazing opportunities for a person of the 21st century to gain real wealth!
At the same time, this opportunity was provided to all people - all people on planet Earth had the opportunity to buy the first cryptocurrency.
Our descendants will then discuss this situation with surprise and wonder why such a small number of people were able to improve their financial situation with the help of Bitcoin - after all, this was one of the most global redistributions of world wealth in the world history of mankind.

You seem to sound like Satoshi himself. I get to understand that bitcoin made a lot of persons who were not interested in it at the first time it was created. So, when it made remarkable increase in price, and many turned millionaires and billionaires with little investment they had out then or during 3 to 4 years of its launch. Because of this good news, big investors, millionaires and those who have acquired lots of properties tend to sell off their assets and invest in bitcoin.

Some gave it a try with some little money, and they got lots of profit after some years, now they went all in. I don't see it as a bad idea to go all in its bitcoin but truly as a wise man it is not expected to sell all you have that you value so precious and risk them into bitcoin investment.

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Quote from: zasad@ on April 04, 2024, 06:43:08 AM

-snip-
4 billion in fines isn't a lot of money to him.

That's still a very high fine, because 4 billion dollars is not a small amount of money, even for someone like Elon Musk himself I doubt that he would be willing to spend that much money on a fine - let alone someone like CZ whose assets are in the form of crypto.
Moreover, CZ must avoid the fine, because if he admits this and is forced to pay the fine, it will indirectly indicate that their platform is involved in the various alleged violations and this will significantly impact their image.

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Quote from: NotATether on April 04, 2024, 07:31:14 AM

Quote from: zasad@ on April 04, 2024, 06:43:08 AM

4 billion in fines isn't a lot of money to him.

Isn't? Man, it's 33 billion dollars left. But we probably need to put this into normal people's perspective.

Imagine if you have 37 thousand dollars ($37,000). But you are hit with a $4000 fine or some other kind of unforseeen expense, which is very common to happen at least once to people, that's going to leave you with 33,000 dollars left, and if there is no cashflow to replace that lost $4000 quickly, then you are not going to recover that.

Losing money is a big deal to everyone, it's why you have super rich people complaining about losing lots of money on social media.

lol, sure losing $4 billion is going to make anyone complain, but if you've still got $30 billion it doesn't matter at all. At that point (actually welll wellllll welllllllll before that point) money is just a game. Whether that kind of person has 5 billion or 30 billion or 100 billion doesn't matter to them, its not like they are actually ever spending that money, its just wealth to keep growing. The actual money CZ needs for living his life is a tiny tiny fraction of his wealth. Losing $4 billion may be a reason to complain, but it changes absolutely nothing for him.

And the analogy to $37k doesn't work, because that is the sort of money people actually need to spend. Losing $4000 in that case would definitely be a big deal because the person might actually need that money at some point. There is no point in time when CZ will need that $4 billion. He doesn't have to replace it, because he'll never need it in the first place. And it is nothing compared to how his crypto wealth will grow in the future. He could gain $4 billion in a good WEEK in the market.

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In fact, I have respect for people who have sold all their real estate, sold all their possessions and invested in Bitcoin.
This is how great fortunes are created. The amount of your wealth is directly proportional to your willingness to take risks. In addition, intuition and faith are important (by faith I do not mean religious beliefs, but commitment to one’s ideas). The idea that Bitcoin will eventually become the world's reserve currency and its value will exceed $1,000,000 is a bold idea. But people who believed in the prospects of Bitcoin and took appropriate action became rich people.
Bitcoin is one of the most amazing opportunities for a person of the 21st century to gain real wealth!
At the same time, this opportunity was provided to all people - all people on planet Earth had the opportunity to buy the first cryptocurrency.
Our descendants will then discuss this situation with surprise and wonder why such a small number of people were able to improve their financial situation with the help of Bitcoin - after all, this was one of the most global redistributions of world wealth in the world history of mankind.

Plaguedeath

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Isn't Satoshi the richest? he own 1 Million coins which worth $73 Billion right now.

Quote from: NotATether on April 04, 2024, 07:31:14 AM

Losing money is a big deal to everyone, it's why you have super rich people complaining about losing lots of money on social media.

Yep, I know someone who's rich that can afford to buy new car without any problem, but when he buy something and didn't get exact amount change, he will complain about it even though it just a cent, he's really stingy and always count every cent he get.

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Quote from: zasad@ on April 04, 2024, 06:43:08 AM

https://www.forbes.com/sites/johnhyatt/2024/04/02/the-richest-crypto-and-bitcoin-billionaires-in-the-world-2024/?sh=1bf1dacb726b

"That’s helped make at least 17 people crypto billionaires, according to Forbes’ 2024 World’s Billionaires list, up from nine crypto billionaires last year. These 17 investors and entrepreneurs are worth a collective $93 billion, between their estimated crypto asset holdings, publicly disclosed stock holdings and private assets. That’s more than double the $37 billion in collective crypto billionaire wealth last year.

Isn’t so shocking that we are in the age where we are getting to see billionaires just from bitcoin or cryptocurrencies. This is proof that we are now entering a whole new era. Lots of people probably have no idea how cryptocurrencies can make you rich let alone make you a billionaire

Quote

1. Changpeng Zhao
Net worth: $33 billion (vs. $10.5 billion) | Source of wealth: Binance"
__
4 billion in fines isn't a lot of money to him.

Isn’t his net worth different from Binance’s? From what I know a corporation is an entity of its own and isn’t tied to its owner or other shareholders. Which means he might be richer than is being shown. Especially he was found guilty of money laundering. Rich people have more riches than we might know.

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Quote from: sokani on April 04, 2024, 08:20:10 AM

If Binance goes bankrupt he'll definitely drop out of ranking among the world's crypto wealthiest persons but his wealth won't varnish. I'm sure he has coins like BTC, ETH, BNB etc that he's holding in his personal wallet and also I want to believe he has invested heavily in other businesses outside crypto.

It's true that he has other cryptocurrencies in his portfolio but most of his wealth comes from BNB token, you missed this point. I didn't say his wealth will vanish all and drop to $100,000 like SBF.

Binance’s Changpeng Zhao Clings To Multibillion-Dollar Fortune After Guilty Plea

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Zhao’s estimated 90% stake in Binance, which accounts for the vast majority of his fortune, is now worth an estimated $15 billion, Forbes estimates.

Quote

The only way this could happen is if his wealth were confiscated by the government.

They must have very big shady reasons, on behalf of law, to confiscate all of his assets. It won't happen as I believe he won't make criminal activities.

cryptoaddictchie

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Quote from: sokani on April 04, 2024, 08:20:10 AM

$4.3 billion dollars fine is actually a pinch of salt, but I thought the money came from Binance's pocket.

This is also what I knew that Binance shoulder the fine for the incident CZ was in. Anyway durely Binance still own by CZ so tis hus money after all.

Quote from: sokani on April 04, 2024, 08:20:10 AM

If Binance goes bankrupt he'll definitely drop out of ranking among the world's crypto wealthiest persons but his wealth won't varnish. I'm sure he has coins like BTC, ETH, BNB etc that he's holding in his personal wallet and also I want to believe he has invested heavily in other businesses outside crypto. The only way this could happen is if his wealth were confiscated by the government.

Thats a big What if I guess. Even though Binance has a lot of bashers and enemies around Government. There are some on private or rven OGs in crypto space that support him and even fighting on socials for him. Well how they cant they love using Binance as the leading. But what you said is right, once Binance fall thats make CZ falls too.

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Quote from: zasad@ on April 04, 2024, 06:43:08 AM

4 billion in fines isn't a lot of money to him.

$4.3 billion dollars fine is actually a pinch of salt, but I thought the money came from Binance's pocket.

Quote from: tranthidung on April 04, 2024, 07:34:00 AM

His wealth will vanish after one night if Binance exchange has a collapse like FTX exchange. I don't wish it to happen for Binance and CZ, and this is an example on risk of wealth built by cryptocurrencies especially altcoins.

If Binance goes bankrupt he'll definitely drop out of ranking among the world's crypto wealthiest persons but his wealth won't varnish. I'm sure he has coins like BTC, ETH, BNB etc that he's holding in his personal wallet and also I want to believe he has invested heavily in other businesses outside crypto. The only way this could happen is if his wealth were confiscated by the government.

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Eloncoin.org - Mars, here we come!

Quote from: zasad@ on April 04, 2024, 06:43:08 AM

1. Changpeng Zhao
Net worth: $33 billion (vs. $10.5 billion) | Source of wealth: Binance"
__
4 billion in fines isn't a lot of money to him.

It isn’t just about money, though. It’s his credibility and his name that is also important and having this case tied to your image is not exactly the best thing to happen to a person. 4 billion is what he is being fined for but he might also be losing some money due to other partnerships losing trust in him. Rich people are complicated and it’s not just as simple as losing 4 billion.

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The Richest Crypto And Bitcoin Billionaires In The World 2024

This is an admirable and proud achievement for bitcoin and cryptocurrency investors. But I hope not many people look at this result and start to have the illusion that this is easy and that just investing in cryptocurrency can be easily achieved. I see many people still dream that just by investing a few hundred dollars, a few thousand dollars, they can earn a few million dollars when coming to this market. Or some people think that just buying, holding and not working for a few years can become rich. Many people have the wrong mindset when starting to participate in the market because of news like this.

Die_empty

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Give all before death

A few years ago people never thought that just hodling Bitcoin would make people very rich. Cryptocurrencies created an opportunity for commoners in society to become wealthy without any political or economic connections to the society's high-class citizens. In some countries, you cannot come out of poverty if you don't have the connections. Through DCA an average worker can be able to earn a good amount of money over a period.

It will be difficult to ascertain the financial worth of these billionaires since some of them run some centralized organization that handles people's funds, but the list looks fair. And I also think that there are also some unknown Bitcoin billionaires who choose to remain anonymous.

tranthidung

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Farewell o_e_l_e_o

Quote from: zasad@ on April 04, 2024, 06:43:08 AM

1. Changpeng Zhao
Net worth: $33 billion (vs. $10.5 billion) | Source of wealth: Binance"
__
4 billion in fines isn't a lot of money to him.

Most of his wealth is from BNB token, not from Bitcoin. He sold his house to buy bitcoin years ago but now his wealth is mainly from Binance token, BNB.

His wealth will vanish after one night if Binance exchange has a collapse like FTX exchange. I don't wish it to happen for Binance and CZ, and this is an example on risk of wealth built by cryptocurrencies especially altcoins.

Who Is Sam Bankman-Fried?

Quote

Bankman-Fried told New York Times columnist Andrew Ross Sorkin in an article published on Dec. 1, 2022, that the sum of his wealth was $100,000 in a bank account. That balance represents quite a fall, if true. According to Forbes, Bankman-Fried had an estimated peak net worth of $26.5 billion.

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Quote from: zasad@ on April 04, 2024, 06:43:08 AM

4 billion in fines isn't a lot of money to him.

Isn't? Man, it's 33 billion dollars left. But we probably need to put this into normal people's perspective.

Imagine if you have 37 thousand dollars ($37,000). But you are hit with a $4000 fine or some other kind of unforseeen expense, which is very common to happen at least once to people, that's going to leave you with 33,000 dollars left, and if there is no cashflow to replace that lost $4000 quickly, then you are not going to recover that.

Losing money is a big deal to everyone, it's why you have super rich people complaining about losing lots of money on social media.

zasad@

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https://www.forbes.com/sites/johnhyatt/2024/04/02/the-richest-crypto-and-bitcoin-billionaires-in-the-world-2024/?sh=1bf1dacb726b

"That’s helped make at least 17 people crypto billionaires, according to Forbes’ 2024 World’s Billionaires list, up from nine crypto billionaires last year. These 17 investors and entrepreneurs are worth a collective $93 billion, between their estimated crypto asset holdings, publicly disclosed stock holdings and private assets. That’s more than double the $37 billion in collective crypto billionaire wealth last year.

For the third year running, Changpeng Zhao, founder and former CEO of crypto exchange Binance, is crypto’s wealthiest person. Despite pleading guilty to U.S. money laundering charges in November, CZ, as he’s known, is now worth an estimated $33 billion, up from $10.5 billion last year. That makes him the biggest crypto gainer in dollar terms since last year and the 50th-wealthiest person in the world. The bulk of his fortune comes from his majority stake in Binance, which remains the industry’s largest global trading venue by volume.

1. Changpeng Zhao
Net worth: $33 billion (vs. $10.5 billion) | Source of wealth: Binance"
__
4 billion in fines isn't a lot of money to him.

Topic: The Richest Crypto And Bitcoin Billionaires In The World 2024 (Read 314 times)