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Crypto founders top young Australian rich list

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The Australian Financial Review (AFR) has developed a list of 87 of Australia’s wealthiest entrepreneurs who are under the age of 40. Each of them is valued at more than $36 million ($26.9 million) in Australian dollars.

Melanie Perkins and Cliff Obrecht, co-founders and CEOs of prominent graphic design software company Canva, are at the top of the list. The couple’s combined net worth is estimated to be 16.5 billion Australian dollars ($12.3 billion).

The AFR’s 2021 “Young Rich” list included seven cryptocurrency luminaries. Some of the main protocols in decentralised finance (DeFi) and NFT industries have been developed by the minds behind them.

Synthetix

Kain Warwick, the founder of Synthetix, the derivatives trading system, is Australia’s wealthiest crypto person, with an estimated net worth of $879 million AUD ($657 million).

Synthetix was established by Warwick in 2017 and is an Ethereum-based decentralised synthetic asset issuance platform. That provides synthetic asset exposure to a variety of markets, including crypto, equities, and commodities.

Synthetix is the 22nd most valuable DeFi protocol, with a total value locked (TVL) of $2.2 billion, and its native SNX token is the 85th most valuable crypto asset, with a market capitalization of $1.9 billion at the time of writing.

Over the course of six investment rounds, Synthetix has raised a total of 46.1 million AUD ($34.46 million). According to Crunchbase, the rounds featured funding from Paradigm, Coinbase Ventures, and IOSG Ventures.

Illuvium and the Warwick brothers

This year’s list includes three of Kain Warwick’s brothers: Aaron, Grant, and Keiran.

Illuvium, a future play-to-earn cryptocurrency game, co-founded by the three brothers in 2020. Additionally, Keiran is the richest person in Australia, with a net worth of 463 million AUD ($346 million). Followed by Aaron in 26th place with 425 million AUD and Grant in 34th place with 196 million AUD.

Despite the fact that the Illuvium game is still in production, the ILV token has risen in the market capitalization rankings this year. Climbing to 145th place with a market worth of $721 million.

Illuvium has so far collected $5 million in an investment round that included Framework Ventures and IOSG Ventures.

Sustainable Bitcoin miners

Daniel and William Roberts, also made the list, coming in at number 19 with a combined net worth of $484 million AUD. Earlier this year, the two co-founded Iris Energy, a Bitcoin (BTC) mining company focusing on sustainable energy. In July, the company was trying to fund $200 million in preparation for a Nasdaq IPO.

The company filed for an initial public offering (IPO) with the Securities and Exchange Commission last week. With a goal of raising up to $100 million. Later this year, the company plans to float its stock under the REN ticker.

Sergienko’s rise to fame

Finally, Sergei Sergienko of Sydney came in 60th place with a net worth of 97 million AUD ($72.5 million), thanks to his work with Chronobank, a blockchain-based startup he started in 2016 that automates hiring processes and allows workers to receive payment in cryptocurrency.

Chronobank’s website states, “With blockchain technology, the firm enables HR and recruiting experts. As well as enabling worldwide freelancers to find the best jobs and ensure they are receiving payment fast and fairly”.

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