What makes these four different developers become the strongest people in the crypto industry?

The Economist interviewed four of the world's most proficient cryptocurrency players: Fried by FTX, Changpeng Zhao by Binance, Armstrong by Coinbase, and Hayes by Bit mex (without interviewing the person). These are the characteristics that make these four people leaders in the crypto industry and will be the most significant in the history of geographic transformation.

The Hong Kong hub of the FTX cryptocurrency exchange is where high-end financiers and young people mingle in turmoil. It is 7:30 p.m. Staff in shorts and t-shirts are still working. return of them. Wine, cardboard boxes and all manner of debris are strewn here and there, and other items such as guitars and badminton rackets are everywhere.

Buffet appeals to hungry people. A contractor and a developer face the wooden chessboard. FTX founder Sam Bankman-Fried (Sam Bankman-Fried) became the King of Spades and decorated with statues by Father Sam. Wall poker games are usually played in conflicting chat rooms when prices bitcoin have increased (forums are not open tonight).

Founded two years ago, FTX is the most popular company in the cryptocurrency space. In October, it was raised $ 420 million by well-known investors such as BlackRock, the world's largest president, and Sequoia Capital, a venture capital firm. 10 billion.

After signing hundreds of millions of dollars in sponsorship deals in 2021, the name appeared on the Miami Heat home team, the elite volleyball team, and even appeared in the football industry. Super Bowl. The uniform works for cars and drivers of the Mercedes Formula 1 team.

FTX holds market share through tenders and is now consistently in the top four. Banker Fried, known in the industry as SBF (short for his name), is worth over $ 22 billion and is only 29 years old.

Since the start of 2020, the total market value of the global cryptocurrency has increased 12-fold to $ 23 trillion (as of mid-December 2021). Changpeng Zhao, 44, is the Sino-Canadian leader of Binance, the world's largest cryptocurrency exchange.

Three years ago, Binance by Changpeng Zhao turned African-American co-founder Arthur Hayes' Bit Mex into the world's largest cryptocurrency exchange. Bit mex pioneered the most popular cryptocurrencies and was the most popular and risky product.

Brian Armstrong, CEO of Coinbase, the only listed and regulated exchange in the United States, is introverted, to stay and hope that Coinbase, the best exchange, can attract people with low management. exchange on land.

These four exchanges have raised millions of dollars in wealth in just a few short years, and have had a huge impact. In the traditional financial system funds are usually borrowed, used and stored, the most powerful intermediaries are banks, mortgage companies and property managers. However, when today's personal money is mainly used for speculation, the owner trades the king of the world, providing professionals with trading and retail tools, the difference is that the main goal of the world of cryptography is to eliminate middlemen.

For other reasons, the god of cryptocurrency is inconsistent. They don't think the administration poses a threat, but when the administration starts screaming, most people choose to walk away from the slack. Some outsiders question their authenticity, others praise their success for time and place, not the eyes of the entrepreneur.

Enthusiasts admire their talents in a steadfast business, but some believe they won't last long. People know very little about their own lives, beliefs, and ambitions. The Economist asked our founders and insiders how it could be used to become one of the most profitable people in the cryptocurrency space, and they were able to quit after they left.