Which was further clarified by the CFTCs new guidance on such trades, introduced only last March. Adding to the chorus of voices are some high-powered legal experts who consider the case United States of America v. Arthur Hayes to be largely unprecedented. This overall price increase has also created millions for people that bought and held their bitcoins. When the value of a bitcoin reached more than $11,000 in 2017, the Winklevoss twins became the world's first verified bitcoin-financed billionaires. Use of this site constitutes acceptance of our User Agreement and Privacy Policy and Cookie Statement and Your California Privacy Rights. His answer: a coconut.. Make sure you read the fine print. Giancarlo earned the moniker Crypto Dad for suggesting that Congress not treat Bitcoin with disdain or dismissiveness, but with open-mindedness. In short, he is not anti-crypto. Thats really not my game., When asked if he might concede that U.S. and European regulatory authorities are on a slightly different plane than those in the Seychelles, Hayes remarked, It just costs more to bribe them. And how much was Hayes paying to bribe the Seychelles authorities? their way through a capital raise, and the inevitable parasites who latch on and try to feed off the others. "MicroStrategy Increases Bitcoin Holdings by 2,500 and Now Holds 132,500 BTC.". Its biggest revenue generator: digital asset manager Grayscale, which oversees $28 billion worth of Bitcoin, Ether and other assets. Not financial advice. Still, Draper thinks there's room for Bitcoin to grow. Armstrong currently occupies position #1990 on the Forbes Billionaires 2020 list, with an estimated net worth of $1 billion. The only way to tell is if the owner has publicized their holdings. Bitcoin Billionaires, released in 2019, is actually the sequel to The Accidental Billionaires, released in 2009, which makes the film with the Winklevoss twins a sequel to The Social Network. A sequel to The Accidental Billionaires, the book traces Cameronand Tyler Winklevoss' journey into the world of cryptocurrency, investing in bitcoinand encountering early adopters Charlie Shrem, Roger Ver, Erik Voorhees, Naval Ravikantand Dan Kaminsky, in the face of mounting scrutiny from government regulators and the financial establishment. Bitcoin Billionaires is the story of the brothers' redemption and revenge in the wake of their epic legal battle with Facebook. Two of the story's iconic characters are Harvard students Tyler and Cameron Winklevoss: identical twins, Olympic rowers, and foils to Mark Zuckerberg. Armstrong said he started Coinbase because he wanted the world to have a "global, open financial system that drove innovation and freedom.". As the pair mapped out what it would take to turn Hayess vision into reality, Deloan expert in the back-office work of designing complex algorithms and high-speed trading systemssaid they needed a front-end web developer to handle the consumer-facing side of things. But the feds describe Arthur Hayes differently: a wanted man who flouted the law by operating in the shadows of the financial markets. Hayess indictment was unsealed in October, and he remains at large in Asia as prosecutors in New York hope to arrest him and try him on two felony counts, which carry a possible penalty of 10 years in prison. Most top Bitcoin billionaires became rich by creating products and services to grow the cryptocurrency ecosystem. Left, Sam Reed in Croatia, 2014 on the day of BitMEXs launch; center, Arthur Hayes, Sam Reed & Ben Delo (L-R) in Dublin, 2014; right, Ben Delo outside BitMEXs office in Hong Kong, March 2019. It is under regulatory scrutiny in some financial jurisdictions and has been forced to operate without a headquarters. Sam Bankman-Fried. As for the civil suit, a source familiar with the governments thinking said that BitMEX failed to thread the needle and operate within an exception to an exception to the CFTCs jurisdiction. It helps that the Winklevoss twins are billionaires now the first ones to be verifiably minted by bitcoin, in 2017. Most certainly so when it's wrapped up with extraordinary financial returns, scary new technologies like Bitcoin, and an establishment villain that everyone despises.. And don't forget about our mod since it's the best thing you'll ever get . Neither, he said, are his former CFTC colleagues who last year put the crypto community on notice that the commission takes its jurisdiction and authority seriously. You can look at the history of anti-money-laundering prosecutions over the last 10 years, and you just arent going to see very many individual defendants named, attorney and crypto expert Rimon expounded. The other is to take advantage of the billions of dollars being invested in the sector and profit from developing the infrastructure needed to run the industry. By tapping the screen you can mine virtual bitcoins and slowly increase your wealth. The CFTCwhich protects retail and institutional investors from fraud, manipulation, and abusive practices related to the sale of futures and optionsfiled a civil suit against BitMEX and its founders for operating an unregistered trading platform and failing to implement required anti-money-laundering procedures. It is tough to say for sure who owns the most bitcoin, as wallet addresses are anonymous in that they are not associated with the account owner's name. The man he was tweeting at was Nouriel Roubini, a respected NYU economics professorand BitMEXs fiercest critic. Who went to jail from HSBC for their money laundering and, you know, their Iran deals and all these kinds of sanctions violations? In their view, governments, starting with the U.S. and rippling outward, believed and acted as though they had a monopoly on money and resisted the crypto uprising, in which people were investing in reputedly anonymous digital assets to make a profit, hide their wealth, flip off the establishment, or some combination thereof. You mine virtual. Hayes, the scholarly son of autoworkers, had forsaken the regimented and highly regulated world of investment banking for cryptos Wild West, where rules were made on the fly and regulations were few. Shrem sailed a bit too close to the wind and was found guilty of money-laundering on behalf of The Silk Road. Hayes, 35, went radio silent in October. In a 2015 investor presentation, Hayes made the point that Bitcoin derivatives are completely unregulated worldwide. That's up from just 25,000 bitcoin. "Why Crime Could Kill Crypto. Click the edit button at the top of any page to get started! It did not escape their attention that BitMEX had plenty of American depositors, many of whom disguised their location by using virtual private network (VPN) software. Before entering crypto, McCaleb was known for creating file-sharing service eDonkey2000, which settled a 2006 lawsuit from record companies over copyright infringement for $30 million. ", Business Insider. With a turban made, in his words, from secret fabric, and an eponymous line of clothing which he describes as Burning Man by way of Punjabthe first-generation Sikh American began hosting Bitcoin meetups a decade ago in Vegas, where early attendees included aspiring magicians and poker players. This would equate to approximately $150m. addresses, kept American clients off the platformand stateside regulators at bay. He still holds about 3.4 billion XRP, which at February 2023 prices, sets him at close to $2.4 billion in total worth. Armstrong, 38, cofounded the exchange in 2012 after stints at Deloitte and Airbnb. November 27, 2020. Like other DOJ veterans I spoke with, she was struck by the absence of more substantive charges. the first billionaires in the crypto ecosystem, Today's Cryptocurrency Prices by Market Cap, Bitcoin Jumps to New High Above $66,000 After Landmark U.S. ETF Launch, Trading Halted on Coinbase the Largest U.S. Crypto Exchange as Bitcoin Tanks, Crypto Exchange Gemini Valued at Over $7 Bln After Latest Fundraise, MicroStrategy CEO: Bitcoin Is the Most Powerful and Disruptive Technology of Our Lifetime, MicroStrategy CEO Defends Debt-Financed Bitcoin Buys, Compares It to Investing Early in Facebook, Bitcoin 2021: Fireside: Michael Saylor and Max Keiser, Microstrategy Incorporated Form 8-K | November 29, 2021, MicroStrategy Increases Bitcoin Holdings by 2,500 and Now Holds 132,500 BTC. In January 2018, the cryptocurrency bubble briefly pushed his fortune over $17 billion. Embedding With Pentagon Leadership in Trumps Final, Frenzied Days Donald Trump Refused to Take No From WomenAnd Then From America Itself How Trumps COVID Chaos Drowned the FDA in Junk Science Inside the Epic Bromance of Jeffrey Epstein and Donald Trump After Wrecking the Country, Jared and Ivanka Plot Vacation Plans Can Trumps Cult of Followers Be Deprogrammed? He first made his entry into the world of cryptocurrency back in 2012, after co-founding the San Francisco-based cryptocurrency exchange, The exchange is currently valued at up to $10 billion, making it one of the most successful crypto companies to date. After HSBC admitted to laundering nearly a billion dollars for the Sinaloa cartel and moving money for sanctioned customers in Cuba, Iran, Libya, Sudan, and Myanmar, the Justice Department elected not to indict the bank or its officials, instead having it pay a $1.92 billion fine and install a court-appointed compliance monitor. Barry Silbert is the founder of Grayscale, Nasdaq Private Market, and the CEO of Digital Currency Group, one of the first billionaires buying Bitcoin since 2012. Bitcoin Billionaires is the story of the brothers' redemption and revenge in the wake of their epic legal battle with Facebook - and the first great book from the world of bitcoin. According to the Forbes Real-Time Billionaire list, Chi-hyung is worth more than $3.7 billion. Still fuming from Taipei, he trained his ire on BitMEX and its CEO, accusing them of sketchy business practices, such as using an internal for-profit trading desk to front-run their own clients and deriving up to half of their profits from liquidationsthe suggestion being that BitMEX is highly incentivized to screw over the very people who trade on the platform. Prosecutors allege that Hayes and his business partners violated the Bank Secrecy Act by failing to implement and maintain an adequate anti-money-laundering programto weed out bad actors and dirty money. Gox, the first major Bitcoin exchange, which he sold a year later. The Richest Bitcoin Miner vs. Investor: Stat 23. Ripple is a blockchain-based digital payment network and protocol with its own cryptocurrency called XRP. According to a civil filing, BitMEX derived much of its volume and fees from U.S. customers. The address that holds the most bitcoin is 34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo, with more than 248,597 BTC. As of February 2023, Microstrategy holds about 132,500 bitcoinclose to $3.2 billion. At 6 a.m. on the morning of October 1, 2020, FBI agents pulled up to a large colonial in a comfortable Boston suburb. After working at a small web development shop in New York, Sothebys came calling, looking to Chu to help the auction house grow its digital presence. Since being released from prison in 2016, he has continued to launch new businesses including Intellisys Capital. Meanwhile, Hayess colleagues in the cryptocurrency world believe he is being punished for building an ingenious product that has baffled lawmakers, bedeviled regulators, andonce it became wildly popularposed a threat to some of the markets biggest players. Larsen, referring to cryptocurrency and blockchain, told Forbes, "The internet of value is more than just laying out a new way of doing finance. Bitcoin Billionaire is an idle mining game that's all about earning virtual bitcoins through fast tapping, smart investments, and cool upgrades. According to the Forbes Real-Time Billionaires List, Changpeng Zhao, founder of cryptocurrency exchange Binanceis estimated to be worth $4.5 billion, making him the wealthiest person in. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. Forbes estimates their net worth at $1.1 billion each. According to a 2013 analysis by RSK labs co-founder Sergio Demian Lerner, Satoshi Nakamoto could have as much as 1.1 million Bitcoin stashed away. Zhan has promised that under his leadership, Bitmain will complete its planned IPO by the end of 2022. None, however, has the zeal and enthusiasm of Michael Saylor, CEO of software firm MicroStrategy Inc. (MSTR). Just replace New York with Hong Kong and infuse it with a dose of Silicon Valleywhere unicorns spring from the minds of irrepressible company foundersand, well, you get the picture. When he heard Bitcoin was trading significantly higher on the Chinese mainland, he bought a bundle, transferred the coins to an exchange in China, and swapped them for yuanliterally lugging around a backpack containing stacks of banknotes. ", YouTube. An early pioneer, Mc-Caleb, 46, helped launch three crypto firms. Hayes, I am told, may be in Singapore, where he is known to have a residence. The SEC is completely wrong on the facts and law, Ripple said in a statement. He launched Binance in the summer of 2017, and in under a year it became the most popular place to trade crypto. According to a 2013analysisby RSK labs co-founder Sergio Demian Lerner, Satoshi Nakamoto could have as much as 1.1 million Bitcoin stashed away. Wells Fargo, JPMorgan, Goldman Sachsthey have pleaded guilty to fraud. Since then, he's become something of a Bitcoin zealot. ), Reed was less institutional and more peripatetic than Hayes and Delo. His great achievement has been setting up ethereum, the platform that is now a major rival of bitcoin. I feel like an outsider, she remarked, in the sense that Im female; Im not funded by Silicon Valley; my mommy and daddy arent rich. Like Bobby Axelrod-in-Billions large. Roszak recently co-led an initiative to give each member of Congress $50 worth of digital assets; some accepted, but not all. A few weeks later Dr. Doom blasted back with a scathing op-ed titled The Great Crypto Heist. In it he raised red flags about systematic illegality in offshore exchanges. (All three are billionaires, according to sources familiar with their finances.). (The CFTC also sanctioned former Goldman Sachs cochairman Jon Corzine, banning him for life from trading in CFTC-regulated markets for his part in the collapse of MF Global.) The problem is that some of BitMEXs most popular productscalled perpetual swapswere designed not to expire and to instead allow people to keep their trading positions open. This information couldve been doctored or misrepresented by the internet. Closely associated with the early days of bitcoin, Buterin holds enough of that crypto to earn the title millionaire. The unexpected death of a controversial investor has left behind a bitcoin fortune estimated to be worth more than $2 billion. Tim Draper (@TimDraper) December 26, 2020. At that time, the firm said it was buying the cryptocurrency to better use the cash holdings on its balance sheet. Bitcoin Billionaire is a nice inactive clicker where we will go from being a poor guy to a successful multimillionaire thanks to bitcoins (fake, obviously). Not a bad move from the Harvard educated bitcoin brothers. There are two ways to get rich using bitcoin. #hodl. That now generates an estimated $590 million in revenue annually. Credited with inventing the first bitcoin mining computer, Guo still holds upwards of $5m of bitcoin. According to a 2013. by RSK labs co-founder Sergio Demian Lerner, Satoshi Nakamoto could have as much as 1.1 million Bitcoin stashed away. (Bitcoin is currently trading at around $7,600.) He co-founded the exchange in 2012 after quitting his job as a software engineer at Airbnb. They were flocking to BitMEX by the thousands. Bitcoin Billionaires is a collection of 13,337 unique pixel art NFTs. The absence of regulatory guardrails and the cryptocurrency's price volatility have attracted criminals and investors alike. The anonymous developer of Bitcoin Satoshi Nakamoto is rumored to hold more than 1 million bitcoins. This item: Bitcoin Billionaires: A True Story of Genius, Betrayal, and Redemption by Ben Mezrich Hardcover $8.95 The Antisocial Network: The GameStop Short Squeeze and the Ragtag Group of Amateur Traders That Brought Wall Street to Its Knees by Ben Mezrich Hardcover $12.68 CoinMarketCap. Given the uncertainty, its worth name-checking Yifu Guo, who was the first recognisable individual to acquire over a million dollars in bitcoin. #Bitcoin tenX from here by end of 2022 or early 2023. With the price of Bitcoin surging in the recent bull run to over $37,000, the pair have gone from being worth a combined $1.45 billion toapproximately $1.4 billion each, according to Forbes. Two years ago BitMEX leased the 45th floor of Cheung Kong Center, the most expensive real estate in Hong Kong and home to Goldman Sachs, Barclays, Bloomberg, and Bank of America. "Bitcoin Billionaires", released in 2019, was awarded Hudson's Booksellers Best of the Year and translated into 12 languages. #Bitcoin is one of the greatest technological, financial, industrial and humanitarian inventions of our time. Investopedia does not include all offers available in the marketplace. When the twins were awarded $65 million in cash and Facebook stock after a. Translation: A customer with $10,000 in his or her BitMEX account could seamlessly execute a trade worth a cool $1 million. The exchange went public in April 2021 and had a total market capitalization of $17.08 billion at the close of trading on Feb. 17, 2023. The surprising and welcome news meant 50 Cent became a bitcoin millionaire overnight. Winklevoss Twins. JPY. The exchange has suffered many hiccups, such as halts in trading while attempting to scale operations amid crypto volatility. It should come as no surprise that the anonymous founder of Bitcoin is also one of its biggest holders. Silbert continues to buy the dips, and in 2018 announced he would be buying more bitcoin when the price was hovering at $7,000. The men were charged with violating and conspiring to violate the Bank Secrecy Act by willfully failing to establish, implement, and maintain an adequate anti-money-laundering program. Each count carries a maximum penalty of five years behind bars. Olympic rowers best known for accusing fellow Harvard student Mark Zuckerberg of stealing their idea for a social network, the twins used some of their 2012 $65 million legal settlement with the Facebook CEO to start stockpiling Bitcoin. Sawhney has been sympathetic to BitMEXs business model, insisting, They are running a pretty sophisticated casino environment. Kenna picked up coins for cents and dollars but has since cashed out. The list of Bitcoin millionaires 2019. In an online career forum with his alma matertaped while sitting in a hut in ThailandReed shared crypto-business tips. Over the years, authorities have seized over $1 billion of Bitcoin linked to criminal activities on the black market Silk Road website. Things were humming along until October 2013, when he had problems accessing coins he had sent to Mt. Trump Makes an Exit With His Brand in Tatters From the Archive: How Donald Trump Turned Palm Beach Against Him Not a subscriber? ", Reuters. Their high-speed, highly leveraged offerings harkened back to the kinds of potentially toxic financial instruments that would eventually draw scrutiny from regulatorsand later generate laughs in Adam McKays 2015 film, The Big Short, based on the Michael Lewis best seller. Asktraders is a free website that is supported by our advertising partners. Contrary to the popular perception of cryptocurrencies, the wealthiest people in its ecosystem have not generated their wealth through bitcoin investments. Ben Mezrich's 2009 bestseller The Accidental Billionaires is the definitive account of . The 29-year-old MIT graduate is the founder . At just 28 years old, Bankman-Fried manages $2.5 billion of assets through Alameda Research, the quantitative crypto trading firm he founded in 2017. I had been an investment banker, so I wasnt sleeping on the streets. The First-Ever Bitcoin Millionaire and Billionaire: Stat 12,16, The First-Ever BitcoinMillionaire and Billionaire: Stat 13. In 2021, it had a total comprehensive income of 2.15 trillion (won), or $1.73 trillion. (The case has been withdrawn, according to a spokesman for BitMEXs holding company, after the dispute was resolved on confidential terms.) In one of Amatos filings, he claimed that Hayes, Delo, and Reed long [ago] began to spirit away their funds[and] knew by no later than January 2019 that they were under investigation by U.S. regulatory agencies because co-founder Reed was deposed byand allegedly made false representations tothe CFTC. With that knowledge, a source familiar with Amatos suit told me, each of the men allegedly paid themselves $140 million in multiple tranches. Changpeng Zhao is the founder and CEO of the worlds latest cryptocurrency exchange, Binance. By charging BitMEXs founderspersonallywith serious crimes carrying serious time, officials have angered many in the wider crypto community. Within four short years Hayess scrappy casino had become, in gambling terms, the house. In my book BitMEX should be able to put up whatever. Cameron and Tyler Winklevoss, both . What is XRP? Gavin Andresen. The $11m of coins they bought have since rallied in price to make the Winklevoss twins bitcoin worth now total a mouth-watering $150m. But questionable accounting led to a restatement of financial results, and the dot-com bust crashed his stock. Bitcoin Billionaire is an freemium idle clicker mobile game for iOS and Android, developed by FizzPow Games and published by Noodlecake Studios, and was released on October 31, 2014. Please make sure that you fully understand the risks. By 2009, his senior year at Washington and Lee, the self-described Bitcoin hipster was mining Bitcoin on his laptop at a time when the currency was next to worthless. Its not a quid pro quo, but it is a working relationship, which includes, you know, illegality and enforcement as part of the choreography. At the current Bitcoin price of around $37,130, that would make Satoshi worth over $40 billionfar more than everyone else on this list combined. Forbes. But with such incredible gains being made, some of the bitcoin millionaires are actually all too happy to show off their new wealth. By 2018, his holding of 7,500 BTC was valued at $85, but while he is a crypto millionaire, the one problem is that hes lost access to his hoard. There are also likely a handful of anonymous Bitcoin billionaires out there; as of January 2021, there are 25 individual Bitcoin addresses holding more than a billion dollars, according to BitInfoCharts. You dont see any allegation of any of those things in this indictment. (It is, of course, possible that prosecutorswho obtained roughly 100,000 pages of BitMEX documents in the course of their investigationcould file a superseding indictment, tacking on additional charges should they find it warranted. Next to me is a gentleman who works with degenerate gamblers and retail suckers, nonaccredited investors. In his Italian-accented English, Roubini stressed, Theres a whole nice Twitter feed called BitMEX Rektrekt means fucked in the asswhere every other second somebody has been liquidated by these guys, and thousands of them have gone into financial ruin. He accused the company of bucking regulations, insisting that with BitMEX, everybody gets rekt, with the exception of Hayes and his colleagues, who, Roubini said, reap commissions and fees and maintain a liquidation fund that profits off of people going bankrupt. SNEAK PEEK: 'Bitcoin Billionaires' Movie Cast of Characters Revealed | Ben Mezrich Interview 21,017 views Aug 7, 2020 Ben Mezrich, New York Times bestselling author of 'The Accidental. But so, too, is prosecutorial discretion. Im not awareand Ive done this for a really long timeof any other criminal indictment, and certainly not one targeting individuals, that is solely based on anti-money-laundering-program failures, maintained Laurel Loomis Rimon, an expert in financial crimes who spent 16 years with the Justice Department and prosecuted its very first digital-currency case. He worked for a large defense contractor, found the corporate world suffocating, and bided his time at a couple of start-ups and freelance gigs before finding his way to Hong Kong in 2013. The CFTC has been no slouch in making referrals for criminal action. He cited Refco and Peregrine Financial as examples where, at the commissions urging, the Justice Department charged CEOs who later received lengthy prison terms. By age 12 he had a paying gig: debugging and repairing P.C.s for friends and neighbors. 37-year-old Brian Armstrong is currently the youngest known cryptocurrency billionaire. But U.S. officials said that wasnt the case. Mt. One of his latest ventures is a self-financed YouTube series called the Crypto Castle Chronicles. I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! Forbes placed Larsen's worth at $2.2 billion in February 2023. THIS IS JUST ENTERTAINMENT! Larsen has recently been in the headlines for a less cheerful reason, however; the US Securities and Exchange Commission (SEC) brought a $1.3 billion lawsuit against Ripple, its CEO Brad Garlinghouse and Larsen, in his capacity as Executive Chairman of Ripple. But it was not just the Justice Department. In other words, he was about as establishment as Hayes was contrarian. It has since launched business lines ranging from a venture capital fund and a Bitcoin mining operation to a debit card that lets you spend your crypto in Europe. 5 Most Interesting Facts About Bitcoin Billionaires: Stat 1, 4. Bahmanyar is a familiar face at bitcoin community meet-ups. This compensation may impact how and where listings appear. This is a tale of new money versus old, financial whiz kids upstaging bankings old guard, and American authorities attempting to apply 20th-century laws to 21st-century innovation. Its now the most valuable crypto business in America. They got fined. Hes not wrong. Instead, legislators have relied on laws from the 1930sthe Securities Exchange Act and Commodity Exchange Actwhich were later amended in the wake of the 2008 financial crisis. The twins, models of discretion, haven't commented on their newfound wealth. Speaking recently, he said he owned only one half of one bitcoin. As Hayes spoke, though, other parallels with Zuckerberg were unmistakable: the arrogance, the disdain for authority, and the tone-deafness that veered toward self-sabotage. 2023 Cond Nast. 10 Important Cryptocurrencies Other Than Bitcoin, Crypto's Horrible, No Good, Very Bad Year, Investing in Innovation with Cathie Wood, and The Collapse of FTX, Cryptocurrency Billionaire Rankings: The Richest People In Crypto, What to Know About Investing in Crypto Exchanges. While most of their estimated wealth comes from investments in cryptocurrencies, the Winklevoss twins are also entrepreneurs who started the Gemini cryptocurrency exchange. The Bitcoin Billionaire app is designed to boost your crypto trading accuracy. 1.5 Hodoor Taxi Service. Millionaire. I have been incredibly fortunate to exceed those goals, and Im grateful to be in a position to sign this pledge.. Here, you can find information about Bitcoin Billionaire, how to use it, and how to trade on Bitcoin. Explore the addictive gameplay as you learn to make lots of money with Bitcoin Billionaire. His father had been a network administrator for the Air Force and his mother worked as a newspaper editor. ", PR Newswire. Brian Armstrong (January 25, 1983 - present . of the company after being ousted in October 2019. The Winklevoss twins, founders of crypto exchange Gemini, are reportedly back in the Bitcoin billionaire list as of November 2020. You cut out a lot of where U.S. law kind of gets involved with [anti-money-laundering], know-your-customer, KYC, kind of stuff, and you get rid of a lot of the fraud because all this, you know, internet money is actually verifiable, you know, by design.. Given that the price of all of those crypto assets has surged since then, it's likely he's worth significantly more now, assuming he's taken his own advice and HODLed. After the $8.14 million transaction, the online market dipped, and Chu moved to Hong Kong to help Sothebys cater to ultra-rich Asian clients, many of whom had a seemingly insatiable appetite for art and artifacts.