Annual List of China’s Richest Includes Crypto Entrepreneurs

China’s Hurun Research Institute has launched a listing of the richest people within the nation, itemizing cryptocurrency entrepreneurs amongst others.

The annual Hurun China Rich List, a listing of people within the nation with a web value over 2 billion yuan ($209 million), has listed a number of crypto entrepreneurs amongst China’s monetary elite, in response to a launch revealed Oct. 10.

The Hurun Research Institute launched the 2018 Hurun China Rich List of the richest people within the nation, with at the least 13 entrepreneurs whose enterprise is said to cryptocurrency mining and trading.

The rating consists of such trade gamers as Micree Zhan Ketuan, co-founder of pc chip producer of and software program agency Bitmain Technologies, within the high 100 richest individuals in China, with an estimated wealth of 29.5 billion yuan ($2.four billion). The subsequent richest crypto entrepreneur is Bitmain co-founder Wu Jihan, taking the 204th place, with a private value of 16.5 billion yuan ($2.three billion).

Zhao Changpeng, the founding father of the most important cryptocurrency change Binance, was ranked 230th, with an estimated wealth of 15 billion yuan ($2.1 billion). Zhao is adopted by OKCoin crypto change founder Star Xu and founding father of Huobi Li Lin.

Zhang Nangeng, founding father of pc {hardware} producer Canaan Creative, and Hu Dong, founding father of Bitcoin (BTC) mining machine producer Ebang International Holdings are listed within the Hurun report as nicely.

The checklist additionally consists of BTC whale and serial investor Li Xiaolai, with an estimated wealth of seven billion yuan ($1 billion). Recently, Li mentioned that he’ll now not put money into future blockchain tasks. “So, when you see ‘Li Xiaolai’ related to any challenge (I’ve been related to numerous tasks with out my data, 99% is just not an exaggeration), simply ignore it,” Li warned.

In latest months, Bitmain has been making headlines, claiming to have the participation of high-profile buyers like Chinese tech conglomerate Tencent, funding agency DST Global, and Japan’s SoftBank, within the agency’s pre-IPO in August. The firms have subsequently denied their involvement. A Softbank official instructed Cointelegraph that “neither the SoftBank Group Corp. nor the SoftBank Vision Fund had been in any manner concerned within the deal.”

Singapore-based funding firm Temasek additionally formally denied its participation in Bitmain’s IPO, stating that “Temasek is just not an investor in Bitmain, and has by no means had discussions with, or an funding in Bitmain. News experiences about our involvement of their IPO are false.” DST Global additionally confirmed that it had “by no means invested” in Bitmain’s pre-IPO.

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