Whenever the market fluctuates, some people exclaim, "How come everyone else is financially independent?" Today, I'll share with you how the 10 richest people in the cryptocurrency world made their fortunes. Where did they make their initial fortune? What were their unique strategies? Remember to take note after reading this article; after all, these are the paths these experts have taken and the pitfalls they've encountered! 01 List of Well-Known Cryptocurrency Wealthiest People Next, let's take a look at the rags-to-riches stories of these cryptocurrency tycoons and how they each made their fortunes. 1. Satoshi Nakamoto When discussing the richest people in the cryptocurrency world, one cannot avoid the enigmatic figure of Bitcoin's creator, Satoshi Nakamoto. He published the Bitcoin white paper in 2008 and officially launched the Bitcoin network in 2009, earning him the nickname "the father of cryptocurrency." His true identity remains unknown, and he has never made a public appearance, remaining one of the greatest mysteries in the cryptocurrency world. Although no one knows who he is, the approximately 1.1 million Bitcoins he mined in the early days of mining formed his first fortune. These Bitcoins, virtually never moved or sold, have rapidly appreciated in value as Bitcoin's price soared, and are now worth approximately $125 billion! It's safe to say that the more successful Bitcoin becomes, the more valuable his holdings become. However, Satoshi Nakamoto himself has been missing since 2010, with some even speculating that he may have lost his private keys or is no longer alive. Regardless of the truth, the wealth he created thanks to his first-mover advantage is undoubtedly the pinnacle of the cryptocurrency world. 2. Changpeng Zhao As the founder of Binance, Changpeng Zhao's experience is practically a textbook example of cryptocurrency entrepreneurship. CZ was a technical coder in his early years and co-founded the OKCoin exchange, but withdrew shortly thereafter. His first pot of gold dates back to 2014, when he sold his house in Shanghai and acquired approximately 1,500 Bitcoins (then priced at around $600 per Bitcoin). Bitcoin's surge in value over the following years allowed CZ to realize significant asset appreciation and laid the foundation for his subsequent entrepreneurial ventures. In 2017, he seized the opportunity presented by the cryptocurrency bull market and founded Binance. Leveraging its efficient matching engine, user-friendly experience, and the core ecosystem of its platform token, BNB, Binance rose to become one of the world's largest cryptocurrency exchanges by trading volume in just a few months. Binance's initial profit model was also straightforward: matching transaction fees plus the appreciation of its platform token. Think of it this way: exchanges collect "tolls"—the more popular the market and the more trading volume, the more they profit. Subsequently, CZ's personal wealth snowballed thanks to Binance's success, ultimately becoming the richest Chinese person. It can be said that creating the trading platform put CZ on the fast track to wealth, and his initial determination to go all-in on Bitcoin was a crucial step on his path to success. 3. Giancarlo Devasini Giancarlo Devasini may not be familiar to many, but everyone familiar with the cryptocurrency world knows about the USDT issued by Tether, the company he founded. He originally studied plastic surgery but later grew bored and switched to electronics. Devasini made his first fortune in crypto with an investment in Bitfinex in 2012, leading to his co-founding of the Tether stablecoin in 2014. At the time, the stablecoin market was largely undeveloped, but Devasini, with keen foresight, capitalized on the opportunity and established USDT as a USD alternative. Today, USDT is the primary stablecoin used by major exchanges. The resulting surge in valuation has fueled his explosive wealth growth in recent years. Simply put, he identified a market gap and pursued it relentlessly. 4. Brian Armstrong Brian Armstrong, founder of Coinbase, the largest US exchange, took a completely different approach. A software engineer, he first encountered Bitcoin while working at Airbnb around 2010. He keenly noticed the cumbersome and unfriendly process for purchasing Bitcoin at the time. In 2012, he resolutely resigned and founded Coinbase. Soon after, he received seed funding from Y Combinator and subsequently attracted venture capital funding from firms including the New York Stock Exchange. This provided him with ample funds from the outset, and his initial investment came from venture capital. Coinbase has adhered to a compliant approach from the outset. While this path is slower, it's more stable. Coinbase not only obtained a legal license in the United States but also successfully listed on the Nasdaq in 2021, with its market capitalization briefly exceeding $100 billion. Notably, Coinbase later partnered with the established investment bank JPMorgan Chase, opening up access to traditional bank funds and allowing bank customers to purchase cryptocurrency directly with credit cards. This series of compliance-focused operations not only made Armstrong profitable but also established him as a bridge between traditional finance and the crypto world. 5. Chris Larsen Before entering the blockchain space, Chris Larsen was a financial entrepreneur, founding the online lending company E-Loan in the 1990s. He later co-founded the peer-to-peer lending platform Prosper, thriving in traditional finance. As such, he is deeply familiar with the pain points of the payments industry. In 2012, Larsen co-founded Ripple, launching the Ripple payment protocol and the XRP cryptocurrency, aiming to transform cross-border payments using blockchain. His first fortune in the crypto industry arguably came from his involvement in Ripple and his early holdings of XRP tokens. Ripple secured multiple rounds of funding between 2014 and 2016, and as a co-founder, Larsen naturally held a significant amount of XRP and company equity. In 2017, XRP's price soared hundreds of times, propelling Larsen's personal wealth to the top of the crypto rich list. Although XRP prices have since fallen, Larsen's substantial holdings have helped him maintain his position as one of the richest people in the cryptocurrency world. 6. Paolo Ardoino Tether's current CEO, Paolo Ardoino, is also a technical proficiency. Proficient in computer programming, he joined Bitfinex in 2014. With his solid technical background, Paolo quickly resolved a series of early system challenges at Bitfinex, demonstrating his strong architectural capabilities. This caught the attention of Tether founder Devasini, who soon invited him to serve as Tether's Chief Technology Officer (CTO). Paolo's first pot of gold arguably came from equity incentives he received from Tether. When he joined, USDT issuance was only in the tens of millions. However, he helped rapidly expand the stablecoin to over a dozen major public blockchains, including Ethereum, Tron, and Solana, significantly increasing USDT's daily trading volume and application scenarios. It can be said that he traded his technical prowess for a real return. When Tether raked in billions of dollars from interest income, Paolo, as a shareholder, received generous dividends. This investment in technology, coupled with the meteoric rise of the stablecoin industry, made him a legendary figure. 7. Justin Sun Everyone should be familiar with the name Justin Sun. At just 19, he became an early representative for Ripple in Greater China and later secured investment for his own social app, "Peiwo." However, it was the TRON project, launched in 2017, that truly made Sun his fortune. During the ICO boom, Sun raised tens of millions of dollars by issuing TRX tokens, accumulating a substantial amount of seed capital. The subsequent surge in the crypto market sent TRX prices soaring 100-fold, instantly increasing the value of Sun's holdings. He also held a large number of TRON's initial tokens as a founder, achieving a meteoric rise in wealth during that bull market. Since then, Justin Sun has embarked on a series of bold marketing and capital operations: he splashed out $4.56 million to bid for a Buffett lunch, instantly catapulting him to fame; he subsequently acquired the exchange Poloniex and invested in Huobi (now renamed HTX), building his own crypto presence. Sun's approach is straightforward and unpretentious, focusing on both technological advancements and market attention. Despite mixed reviews, he has clearly seized the opportunities afforded to young people, propelling himself to the ranks of the cryptocurrency world's richest. 8. Michael Saylor Michael Saylor's story is somewhat unusual. The founder of business intelligence software company MicroStrategy was once a traditional tech billionaire. However, in 2020, now in his fifties, he suddenly went all-in on Bitcoin. Noting the potential of Bitcoin and the potential inflationary risks of the US dollar, Saylor made the surprising decision to convert the majority of MicroStrategy's cash reserves into Bitcoin. This was equivalent to staking a multi-billion dollar company's fortune on Bitcoin. Many people thought he was crazy, considering it was a Nasdaq-listed company after all! But Saylor proved his judgment with facts. MicroStrategy has been continuously purchasing Bitcoin since August 2020, and by 2025, it had accumulated more than 600,000 BTC, becoming one of the world's largest publicly listed companies. This series of aggressive operations has earned him rich rewards in the crypto field. As the price of Bitcoin later broke through $100,000, his paper profit exceeded $10 billion, and the company's stock price also increased several times. Today, MicroStrategy has simply listed Bitcoin as its main reserve asset, and Saylor has become the spiritual leader of the "aggressive bulls" in the cryptocurrency circle. 9. Stuart Hoegner Stuart Hoegner maintains a relatively low profile in the cryptocurrency world, but when it comes to wealth, he's undoubtedly a hidden gem. A lawyer, Hoegner has long been interested in digital currency legal compliance. In 2014, before cryptocurrencies became mainstream, he joined the Bitfinex and Tether teams. At the time, the industry was mired in regulatory uncertainty, and survival was uncertain. Hoegner withstood immense pressure and steadily established a legal and compliance framework for Tether. For example, he promoted regular reserve audits and transparency disclosure policies, significantly enhancing market trust in USDT. His first fortune came from his Tether stake as a founding member. Unlike other high-profile tycoons, Hoegner rarely gives interviews and rarely makes public appearances. He's the archetypal cryptocurrency entrepreneur who thrives in silence. 10. Cameron & Tyler Winklevoss. Twin brothers Cameron and Tyler Winklevoss received approximately $65 million in compensation in their lawsuit against Mark Zuckerberg over the founding rights of Facebook. This money became the starting point for their venture into the cryptocurrency world. The brothers made their first fortune by using their earnings from the Facebook lawsuit to buy a large amount of Bitcoin at a low price in 2013. This foresight made them among the earliest major Bitcoin holders. Although the Gemini exchange they later founded has performed modestly, this hasn't diminished the lucrative returns their early Bitcoin investment has reaped. To date, they are said to still hold approximately 70,000 Bitcoins. With this initial fortune paving the way, coupled with their long-term belief in Bitcoin, the Winklevoss twins have seen their wealth continue to grow. 11. Jeremy Allaire Jeremy Allaire created USDC, the world's second-largest stablecoin. Having founded companies like the video platform Brightcove during the internet era, Allaire keenly recognized the opportunities in digital currency and founded Circle in 2013, with the initial vision of making cryptocurrency more accessible to the general public. After several transformations, Circle partnered with Coinbase in 2018 to launch USDC, a US dollar stablecoin. Leveraging Coinbase's status and user network, Allaire rapidly expanded USDC's market share. Allaire's initial digital fortune came from the success of Circle and the rise of USDC. As USDC issuance surpassed tens of billions of dollars, Allaire's personal wealth also surged between 2021 and 2023. Although USDC's current market capitalization is slightly lower than USDT, Allaire has successfully vaulted himself into the ranks of crypto billionaires. 12. Mingxing Xu Mingxing Xu is one of the earliest entrepreneurs in China to invest in the crypto industry and the founder of OKCoin/OKX, one of the "Big Three" exchanges in the cryptocurrency world. In 2013, 28-year-old Xu Mingxing founded OKCoin. At the time, China's Bitcoin exchanges were a three-way street (the other two were Huobi and BTC China). Leveraging solid product offerings and marketing acumen, Xu quickly built OKCoin into a major player, ultimately dominating half of the domestic trading market. His initial investment came from the exchange's profits and its platform token. OKCoin later evolved into OKEx and issued its own token, OKB. The platform's daily transaction fees, combined with OKB's appreciation, made Xu a lucrative venture. It's worth noting that he also recruited He Yi, Changpeng Zhao, and others to join his company early on, though these individuals later parted ways due to differing philosophies. 13. Vitalik Buterin (V God) As the father of Ethereum, Vitalik Buterin is known in the Chinese community as "V God." At just 19 years old, he authored the Ethereum white paper based on his ideas for improving Bitcoin. In 2014, Vitalik Buterin officially launched the Ethereum project through crowdfunding. As a co-founder, he also holds a considerable amount of initial ETH. The birth of Ethereum opened the door to smart contracts and decentralized applications, and blockchain technology became more than just Bitcoin. Vitalik Buterin made his fortune from early Ethereum holdings. However, this tech geek isn't obsessed with money. He has repeatedly donated vast sums of crypto assets to charity and scientific research, and has publicly expressed concerns about the crypto bubble. Despite this, thanks to his status as the creator of the Ethereum public blockchain, Vitalik Buterin is still considered one of the most influential figures in the cryptocurrency world. He has proven that young developers can change the world and reap wealth through technological innovation. 02 Summary of Paths to Wealth: Three Wealth-Creation Models Subvert Traditional Logic After reading the stories of these cryptocurrency giants, some may wonder: What commonalities exist in their rapid wealth creation? Ge Ge has summarized three main patterns behind the myths of cryptocurrency wealth creation, which can be said to be "paths to wealth" that subvert traditional logic. 1. The King of Exchanges: The first category is "opening an exchange and becoming the dominant force." CZ and Xu Mingxing are prominent representatives of this approach. The core of an exchange's profitability lies in "collecting fees and cultivating an ecosystem." As long as users trade with you, you receive a steady stream of commissions. Another major exchange player, Coinbase's Armstrong, chose the compliant IPO route, diligently obtaining a license and listing on the Nasdaq. The exchange industry is currently experiencing a significant market saturation, allowing users to profit from fees while also leveraging the platform's coin ecosystem to further maximize returns. The appeal of this path lies in the fact that as long as you're at the entrance to the industry's capital flow, wealth will flow to you continuously. 2. Long-term Bitcoin Hodling: The first model is difficult for most people to achieve today. The second model involves long-term Bitcoin holding. In other words, it involves placing a heavy bet and holding onto a promising crypto asset for the long term, relying on time to exponentially increase its value. Michael Saylor is one of the most prominent Bitcoin bettors. Even though he only began accumulating significant amounts of Bitcoin in 2020, he is currently one of the world's top three Bitcoin holders. If you believe Bitcoin will increase a hundredfold over the next decade, then investing heavily early on will undoubtedly yield astonishing compounding returns. Of course, this approach requires exceptional foresight and a strong conviction in holding onto the coin; otherwise, you'll easily be wiped out by the sudden rise and fall of prices. The third category is ecosystem builders. These individuals often possess both technical talent and capital foresight, accumulating immense wealth by building entirely new ecosystems. Ethereum, developed by Vitalik Buterin, has been a driving force in technological development since he wrote the white paper at the age of 19. Since its launch in 2014, Devasini and Paolo have made USDT the core of market liquidity, with the ecosystem fueling the token's value. Jeremy Allaire launched USDC, which took over 10 years to establish as the "on-chain dollar." Justin Sun, through TRON, has built a comprehensive ecosystem from blockchain, stablecoin, to exchange, honing his skills as he went along. These individuals didn't just "seize the opportunity"; they spent time building a defensive moat and achieving their current status through long-term development. 03 What can ordinary people learn from the leaders of the cryptocurrency world? Gege has summarized some valuable tips, hoping to help you avoid pitfalls and achieve more success amidst the turbulent times of the cryptocurrency world: 1. Sharp Vision and Quick Action Satoshi Nakamoto created BTC, and CZ founded Binance—these legends all began with a bold vision and audacious action. When the opportunity arises, jump on board decisively. Don't wait until most others understand, as by then the soup has cooled. Opportunities always come to the first to try. 2. Hold on to your chips. The common secret to wealth among cryptocurrency giants isn't frequent trading, but holding onto good projects for the long term. The most common mistake ordinary people make is chasing rising and falling prices, failing to hold onto their coins, and ending up with small profits and large losses. Don't even get involved. If you do, have faith. Hold on to the good stuff and don't mess around. Time will reward you handsomely.
3. Find Your Strength
Everyone has their own professional strengths. Combining these strengths with opportunities in the cryptocurrency world will greatly increase your chances of success. Ripple founder Larsen excels in finance and cross-border payments, while CZ excels in technology and matching engines. They've both leveraged their core expertise to achieve greater success in new markets. Think about your strengths and then explore related areas in the crypto world where you can delve deeper.
4. Live and Learn
The crypto industry is rapidly changing, and these leaders all share one thing in common: a keen nose for new knowledge and a passion for continuous learning. New blockchain concepts are constantly emerging. Without constant learning, it's easy to miss out on the next wave of opportunities or even fall into pitfalls. Remember, to survive in the cryptocurrency world, learning and self-improvement are always the most cost-effective investments. Finally, a friendly reminder from Gege: While the myths of wealth in the cryptocurrency world are certainly tempting, always remember that high returns always come with high risks! While we can learn from the successful experiences of experts, no one can completely replicate someone else's life. After all, the true path still lies with you. Finding a way to make money that suits you is more important than blindly following others.
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