FX.co ★ Main beneficiaries of stellar crypto rally in 2024

Changpeng Zhao

Changpeng Zhao, the founder and former CEO of the world’s largest crypto exchange Binance leads the list. Over the past 12 months, his wealth has grown by more than $20 billion, reaching $55 billion. Despite stepping down as head of the company last year and pleading guilty to money laundering – which resulted in a 4-month prison sentence – Zhao still holds a controlling stake in Binance. Binance’s shares soared by 45% in 2024, reflecting the enormous interest in cryptocurrencies and record trading volumes on the platform.

Brian Armstrong

The second spot among the most successful crypto billionaires of 2024 goes to Brian Armstrong, the founder and CEO of the largest US crypto platform Coinbase. Over the past 12 months, his wealth increased by nearly $4 billion, surpassing $11 billion. This growth was driven by a surge in Coinbase shares, which skyrocketed by over 40% last year. Interestingly, about half of this rally occurred on the day of the presidential election when crypto advocate Donald Trump emerged victorious.

Giancarlo Devasini

Another beneficiary of last year’s crypto boom is Giancarlo Devasini, whose fortune grew by more than $3 billion over the past 12 months, exceeding $8 billion. Devasini is the CFO and largest shareholder of crypto giant Tether, the issuer of the USDT stablecoin. Over the past year, USDT’s market capitalization surged to a record $138 billion, reflecting strong demand from investors looking to minimize risks amid market volatility.