Cryptocurrency, Featured

Crypto News: Number Of Crypto Billionaires In China Continue To Grow With Bitmain’s Founder On Top

The list of crypto billionaires in China has created a top news with an indication that the digital currency is creating an impact in terms of the individuals listed. Every year the renowned Hurun Research Institute compiles the list and features individual within the country with a net worth over the US $289 million. The increase of the cryptocurrency billionaires among the top wealthiest individuals across the world is a good sign that the industry has a huge potential in the future.

Although there has been a downtrend in the market, some individuals have successfully maintained the majority of their wealth from the cryptocurrency market from varied countries. The report suggests that 6 people from major Bitcoin mining farms and digital currency exchanges presently hold a net worth of over $1 billion each. Overall, 13 executives from the industry have made it to the list.

The massive investment of Bitmain Technologies’ co-founder Micree Zhanin the production of ASIC miners for the creation of various cryptos in China has put him in the list among the top 100 Chinese billionaires (ranked 95th). His company is almost always in the news for any new happenings. The report shows his altogether net revenue is pushing towards $10 billion. Another co-founder of Bitmain, Wu Jihan has made the 204th position with a net worth of $2.38 billion, as reported by Coin Desk.

The founder and CEO of Binance, Changpeng Zhao ranks third wealthiest individual listed in the cryptocurrency sector. He is estimated to have a gigantic amount of $2.2 billion and this figure has helped him in getting 230th position. The report released in the official site of Hurun Research Institute ranks the Chinese business giant Jack Ma, co-founder and executive chairman of Alibaba Group 1st with a net worth of $39 billion.

It is quite clear that despite the crypto crackdowns in China (including the nation’s stance against digital currency activities), the new players have been venturing in the industry and the leaders in the cryptocurrency market have been able to accumulate substantial wealth   in 2018.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Having over 11 years of experience in Journalism, Subhro has become fascinated by cryptocurrency over the last couple of years.

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