Crypto Billionaire Fortunes Increase Strongly After Donald Trump’s Win
Key Points:
- Bitcoin’s surge to record highs has increased crypto billionaire fortunes by about $70 billion since late 2022, with Binance’s Changpeng Zhao leading the gains.
- Other prominent figures like Michael Novogratz, Brian Armstrong, and the Winklevoss twins also saw substantial net worth increases amid renewed crypto market optimism.
According to Bloomberg, Bitcoin’s recent surge to an all-time high propelled crypto billionaire fortunes by about $70 billion since late 2022.
Read more: Binance Founder CZ Increases Net Worth to $53 Billion After Trump Win
Bitcoin Surge Sends Crypto Billionaire Fortunes to New Heights
Bitcoin has already been leading since the change in political outlook following the victory of Donald Trump in the U.S. election. Now, it has boosted crypto billionaire fortunes and fired up fresh optimism within the crypto space.
Leading the wealth increase is Binance Chief Executive Officer Changpeng Zhao, known as CZ, whose net worth swelled by about $49 billion, according to the Bloomberg Billionaires Index.
CZ, who settled a U.S. inquiry into Binance earlier this year, is one of those seeing their fortunes rebound sharply. He encapsulates the roller coaster ride crypto billionaires have been on since many were pounded by the repercussions from the collapse of FTX two years ago, a meltdown that was among the most traumatic in a series of shocks to have hit high-profile figures around the industry.
Crypto’s Top Stars Rebound by Billions
The head of Galaxy Digital, Michael Novogratz, also increased his wealth substantially to $5.6 billion, up from $1.8 billion since 2022. Brian Armstrong, a co-founder of Coinbase, increased his net worth nearly tenfold, pegged at $14 billion.
Other notable winners of the windfall include Winklevoss twins, who have almost had their fortunes double to a value of $5 billion each. This wider rally has also ballooned the smaller cryptocurrency exchanges and mining firms.
Trump’s friendly approach to Bitcoin is a whole different matter compared to the Biden administration that put Gary Gensler as SEC Chairman to target fraud and misconduct in the sector. Trump’s return brings fresh hope that he might appoint crypto-friendly regulators, signifying possible regulatory relief, which will continue the euphoria in the crypto market.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Author
News
Crypto Billionaire Fortunes Increase Strongly After Donald Trump’s Win
Key Points:
- Bitcoin’s surge to record highs has increased crypto billionaire fortunes by about $70 billion since late 2022, with Binance’s Changpeng Zhao leading the gains.
- Other prominent figures like Michael Novogratz, Brian Armstrong, and the Winklevoss twins also saw substantial net worth increases amid renewed crypto market optimism.
According to Bloomberg, Bitcoin’s recent surge to an all-time high propelled crypto billionaire fortunes by about $70 billion since late 2022.
Read more: Binance Founder CZ Increases Net Worth to $53 Billion After Trump Win
Bitcoin Surge Sends Crypto Billionaire Fortunes to New Heights
Bitcoin has already been leading since the change in political outlook following the victory of Donald Trump in the U.S. election. Now, it has boosted crypto billionaire fortunes and fired up fresh optimism within the crypto space.
Leading the wealth increase is Binance Chief Executive Officer Changpeng Zhao, known as CZ, whose net worth swelled by about $49 billion, according to the Bloomberg Billionaires Index.
CZ, who settled a U.S. inquiry into Binance earlier this year, is one of those seeing their fortunes rebound sharply. He encapsulates the roller coaster ride crypto billionaires have been on since many were pounded by the repercussions from the collapse of FTX two years ago, a meltdown that was among the most traumatic in a series of shocks to have hit high-profile figures around the industry.
Crypto’s Top Stars Rebound by Billions
The head of Galaxy Digital, Michael Novogratz, also increased his wealth substantially to $5.6 billion, up from $1.8 billion since 2022. Brian Armstrong, a co-founder of Coinbase, increased his net worth nearly tenfold, pegged at $14 billion.
Other notable winners of the windfall include Winklevoss twins, who have almost had their fortunes double to a value of $5 billion each. This wider rally has also ballooned the smaller cryptocurrency exchanges and mining firms.
Trump’s friendly approach to Bitcoin is a whole different matter compared to the Biden administration that put Gary Gensler as SEC Chairman to target fraud and misconduct in the sector. Trump’s return brings fresh hope that he might appoint crypto-friendly regulators, signifying possible regulatory relief, which will continue the euphoria in the crypto market.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Other Posts
Related Posts
Latest
Arcana Network Launches the First Ever Chain Abstraction Wallet, Ushering a New Era of Multi-Chain Transactions
Crypto Showdown: Why Qubetics, Hedera, and Stacks Are the Best Cryptos to Buy in November 2024
Press Release
Arcana Network Launches the First Ever Chain Abstraction Wallet, Ushering a New Era of Multi-Chain Transactions
Crypto Showdown: Why Qubetics, Hedera, and Stacks Are the Best Cryptos to Buy in November 2024
