Forbes cryptocurrency list 

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Forbes cryptocurrency list 

Forbes, the global media company publishes its first ever list of the richest people in cryptocurrency. In the editor’s letter, Randall Lane talks about the challenges, the team faced while deciding the ranking criteria and finally preparing the list of “crypto-asset tycoons”. Here’s all you need to know about the Forbes cryptocurrency list.

Forbes cryptocurrency list

Chris Larsen, the co-founder of Ripple hits the Forbes cryptocurrency list with a net worth of $7.5- $8 billion. The co-founder of Ethereum platform, Joseph Lubin hits the second rank with a net worth of $1- $5 billion followed by Changpeng Zhao, the founder of Binance, the world’s largest crypto exchange. Here’s the entire list

  1. Chris Larken
  2. Joseph Lubin
  3. Changpeng Zhao
  4. Cameron & Tyler Winklevoss
  5. Matthew Mellon
  6. Brian Armstrong
  7. Matthew Roszak
  8. Anthony Di Iorio
  9. Brock Pierce
  10. Michael Novogratz
  11. Brendan Blumer
  12. Dan Larimer
  13. Valery Vavilov
  14. Charles Hoskinson
  15. Brad Garlinghouse
  16. Barry Silbert
  17. Vitalik Buterin
  18. Tim Draper
  19. Song Chi-Hyung

The basis of the list

Listing the Richie Rich’s of the volatile asset is definitely challenging due to the decentralized nature of the cryptocurrency. However, Forbes managed to rank these crypto players in “net-worth estimates in ranges”. As per the official announcement, there were three factors that altogether formed the basis of Forbes cryptocurrency list: Cryptocurrency holdings, post-tax profits in crypto trade, and stakes in cryptocurrency business. In order to make to this list, nominees should have a minimum of $350 million. The figures were estimated as per the price on Jan 19, 2018. The official announcement reads as below

“…we’re presenting our first-ever list of the richest people in cryptocurrency in net-worth 
estimates in ranges. We based our numbers on estimated holdings of cryptocurrencies 
(a few provided proof), post-tax profits from trading crypto-assets and stakes in 
crypto-related businesses, and locked in our estimates using prices on Jan. 19, 2018”.

Accuracy of the list

When it comes to Forbes listing, one doesn’t simply question its “accuracy”. But the “hyper-volatility” of the cryptocurrency market made even Forbes team ponder deeply on the same. However, the team accepts the possibilities of loopholes in the process as it says:

“It’s a near certainty that we’ve missed some people and that some of our estimates are wide 
of the mark. But this was equally true when we launched the first Forbes 400 list of the 
wealthiest Americans in 1982.”

Despite several hurdles in the decision-making process, Forbes accomplished the list with the objective of highlighting the “invisible rich”. They believed that throughout the journey of 36 years, they kept the “underlying philosophy consistent”. This time too, they laid the basis of the cryptocurrency list on the same grounds.

"During 36 years tracking the world's richest people, we've honed our methods but kept the 
underlying philosophy consistent: At the time, many people said we couldn’t—or 
shouldn’t—publish"- Lane
“We did so anyway, firm in the belief that we made the world a better place by shining a 
light on the invisible rich. And we believe this report on crypto wealth accomplishes the 
same goal…”- Forbes

 

 

 

 

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