Crypto billionaires included in the list of the richest people in China

Although bears rule the market, and cryptocurrencies are losing 50% of their value, this has not stopped many from earning significant capital on them. In particular, according to the Hurun Report, 13 crypto-businessmen with a capital of at least 2 billion yuan (289 million US dollars) were included in the list of the richest people in China.

Of the thirteen, the only one among the hundred richest was the founder of Bitmain Technologies, Mikri Yang Ketuan, whose capital is estimated at 29.5 billion yuan. This is not surprising given that Bitmain, the world's largest Bitcoin mining company, is already worth more than $10 billion. Another co-founder of Bitmain, Wu Jihan, is ranked 204th on the list, with a net worth of 16.5 billion yuan.

China is known to dominate the mining sector. Bitmain, along with its main competitors - Canaan Creative and Ebang International Holdings - even applied for listing on the Hong Kong Stock Exchange (HKEX). Nine of the thirteen positions on Hurun's list are occupied by employees of these companies. This cannot but attract attention, given China's policy towards cryptocurrencies in general. 

The Chinese central bank has repeatedly warned exchanges about their activities and completely banned initial coin offerings, leading to the closure of the iconic cryptocurrency exchange BTCC. The cryptocurrency community perceived this event as a symbolic end of the cryptocurrency era in China.

Ironically, it was this ban that actually helped the Binance exchange, the world's largest exchange by trading volume, to expand beyond China and begin operating in such countries as like Japan and Singapore. The founder and CEO of the exchange, 41-year-old Zhao Chenpen, ranks 230th on the list with an impressive 15 billion yuan.

Thus, despite the ban and high volatility of digital money, the leaders of the cryptocurrency market were certainly able to make money significant capital in 2018.

According to ccn.com