Wealth List Reveals China’s 13 Greatest Crypto Billionaires

Chinese entrepreneurs behind a few of the biggest cryptocurrency startups in the world have made the country’s billionaire list for the very first time.Hurun, the company that tracks high net-worth people in China and worldwide, on Wednesday released its most current list of the most affluent executives in China– all being

worth a minimum of 2 billion yuan, or $288 million.Based on the report, six people from significant bitcoin mining companies and cryptocurrency exchanges now hold a net worth of more than $1 billion each, while, in total, 13 executives from the industry made it to the list.Notably, Zhan

Ketuan, chairman and co-founder of the 5 year-old, Beijing-based mining company Bitmain, is the only person to be noted amongst the top 100 wealthiest in China (ranked 95th), with 29.5 billion yuan (or $4.25 billion), the report shows.

Zhan is followed by Wu Jihan, also a co-founder of Bitmain, who has 16.5 billion yuan, or $2.38 billion, in net worth.Founders of the world

‘s biggest cryptocurrency exchanges have actually also ended up being recently made billionaires, despite the current slump in the cryptocurrency market. Binance’s Zhao Changpeng, Huobi’s Li Lin and OKCoin’s Star Xu, are the next on the list among the richest cryptocurrency entrepreneurs, with $2.1 billion, $1.4 billion, and $1 billion in net worth, respectively.The report also estimated the wealth of Li Xiaolai, the English teacher-turned crypto investor, at around 7 billion yuan, or $1 billion.Also notably, six out of the overall 13

crypto executives who made it to the list are from Bitmain, while three originated from the firm’s competing chip maker Canaan Creative. Another hails from the network hardware-turned bitcoin miner maker Ebang.So far, all of the three mining firms have actually submitted applications

to the Hong Kong Stock Exchange,< a href=https://www.coindesk.com/bitcoin-mining-giant-bitmain-files-ipo-prospectus-in-hong-kong/ target=_ blank rel=noopener data-wpel-link=internal > seeking to go public in the Chinese self-governing area and economic center. Huobi, on the other hand, recently announced it had acquired over 60 percent of a Hong Kong-listed business– a relocation that might help the exchange go public via a reverse takeover.Overall, Alibaba’s Jack Ma tops the Hurun list, deserving an estimated 270 billion yuan, or $39 billion. Yuan image by means of Shutterstock The leader in blockchain news, CoinDesk is a media outlet that pursues the greatest journalistic requirements and abides by a rigorous set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which buys cryptocurrencies and blockchain start-ups.