Crypto Giants Elbow into Top Richest in China

During the rapid rise of blockchain and cryptocurrency industry, crypto giants in China are particularly eye-catching. According to the Hurun China Rich List 2018 released on October 10, big names in the crypto space are seen on the list for the first time. Bitmain’s founders Micree Zhan and Jihan Wu, Binance’s founder Chaopeng Zhao, and OKEx’s Star Xu have all climbed into the top rich list in China.

The rankings include 14 new faces from the blockchain sector, among which 5 are from Bitmain. With 29.5 billion yuan (roughly US$4.3 billion) in wealth, Micree Zhan, the 39-year-old low-profile co-founder and technical mastermind of Bitmain – world’s dominant producer of cryptocurrency mining hardware, took 95th place on the list. He was also revealed to be the richest man in the crypto sphere within the country.

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With Micree taking the lead, Bitmain’s another cofounder Jihan Wu grabbed 204th place with total wealth reaching 16.5 billion yuan ($2.4 billion). The report called Jihan as the latest self-made billionaire among those born after 1985.

It is notable that the youngest man listed is also from the blockchain sector, though ranked quite in the tail. With 3.4 billion yuan, Ge Yuesheng, the 26-year-old executive director and senior investment director of Bitmain, made his name seen on the list for the first time as a post-90s.

Chaopeng Zhao, the founder of Binance – world’s largest crypto exchange, was ranked 230th with 15 billion yuan ($2.1 billion) in personal wealth.

Top crypto exchange OKEx’s founder Star Xu, owning 10 billion yuan ($1.4 billion), took 354th spot on the list; Leon Li of crypto exchange Huobi was listed in 556th place with 7 billion yuan in wealth.

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“Despite the slowdown in economic growth and the Sino-U.S. trade frictions, there are still many new faces for wealth creation emerging. New opportunities created by the new economy, especially driven by professional investors, have created many unicornsand super-unicorns.” as Hurun commented. Among which, many big names in the crypto sector have been springing up including Bitmain, Canaan and Ebang.

This list indicates that the development of the blockchain industry has drew a lot of attention. The substantial wealth piled in the pockets of those crypto billionaires is also an affirmation of this industry and marks its great potential.

Hurun Report, the world’s largest rich list compiler, released the 20th anniversary of the Hurun Rich List this year in association with LEXUS. The riches being listed have personal wealth of 2 billion yuan at least. The deadline for wealth calculating is August 15 of this year. With 270 billion yuan ($39 billion) in wealth, Jack Ma’s family became the richest in China.

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