Although the cryptocurrency market has recently shown a decline and many digital currencies losing over 50% of their value, some people continue to make huge profits from cryptocurrency projects.
Despite the decline in market capitalization of many cryptocurrencies, a few businessmen from China were in the list of the richest people in the country at the expense of the companies associated with cryptocurrencies.
In the Hurun China Rich List have entered 13 entrepreneurs involved in the cryptocurrency. Their total capital is around two billion yuan (289 million dollars).
The highest entry belongs was one of the founders of the company Bitmain Technologies Zhan Ketuan, whose fortune is estimated at 29.5 billion yuan. In addition, Ketuan is the only crypto-businessman is listed in the list of 100 richest people of China. This is not surprising, since Bitmain is the largest mining company in the world whose income should reach 10 billion dollars by the end of 2018. Another founder of Bitmain, Wu Zihan took 204 place in the ranking with their capital at 16.5 billion yuan.
It's no secret that China dominates the bitcoin mining sector. In fact, Bitmain and its two main competitor, Canaan Creative and Ebang International Holdings, have all applied to go public on the Hong Kong Stock Exchange (HKEX). Nine of the thirteen people trapped in the Hurun China Rich List, are directly related to these three companies.
All this is of special interest in connection with the attempts of the Chinese government's harder to regulate the cryptocurrency sector. The Chinese Central Bank has repeatedly warned bitcoin exchanges about their activity, but also imposed the ban on ICO. For these reasons, it was closed cult exchange BTCC that was regarded by many members of the cryptocurrency community as the end of the age of cryptocurrency in China.
However, these tightening helped the largest cryptocurrency exchange Binance to stay afloat and adapt successfully in Japan and Singapore. CEO Zhao Chenpeng with his condition in 15 billion yuan also has entered in the ranking, took 230 place.
Thus, despite the market volatility and the desire of the Chinese government to "tighten the screws" in the cryptocurrency sector, the leaders of the cryptocurrency market still managed to earn a lot of money.