• Crypto founders are at the top of the list of wealthy young Australians

  • Seven of Australia’s 87 richest entrepreneurs aged 40 and under are crypto founders.

    The Australian Financial Review (AFR) has compiled a list of 87 of Australia’s wealthiest entrepreneurs aged 40 and under, each with a net worth of more than 36 million Australian dollars ($26.9 million).

    Melanie Perkins and Cliff Obrecht, the co-founder and chief operating officer of popular graphic design software provider Canva, are at the top of the list. The married couple is estimated to have a net worth of 16.5 billion AUD ($12.3 billion).

    Seven crypto luminaries, including the minds behind some of the leading protocols in the decentralized finance (DeFi) and nonfungible token sectors, have debuted on the AFR’s “Young Rich” list for 2021.

    Synthetix

    Kain Warwick, the founder of the derivatives trading protocol Synthetix, is the most wealthy crypto figure in Australia, ranking seventh overall with an estimated net worth of 879 million AUD ($657 million).

    Warwick founded Synthetix in 2017, with the protocol consisting of an Ethereum-based decentralized synthetic asset issuance protocol that provides exposure to a variety of markets, including crypto, stocks, and commodities, through synthetic assets.

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

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

    The Warwick brothers and Illuvium

    Kain Warwick is not the only member of his family on the list this year; three of his brothers, Aaron, Grant, and Keiran, are also on the list.

    In 2020, the three brothers will co-found Illuvium, a play-to-earn cryptocurrency game. Keiran leads the pack in 22nd place 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 development, the ILV token has rocketed up the market capitalization rankings this year due to meteoric price growth, currently sitting at 145th with a capitalization of $721 million.

    Illuvium has received $5 million in funding to date, with participation from Framework Ventures and IOSG Ventures.

    Bitcoin miners with long-term viability

    Daniel and William Roberts, brothers, also made the list, ranking 19th with a combined 484 million AUD. Earlier this year, the pair launched Iris Energy, a Bitcoin (BTC) mining company focused on sustainable energy. In July, ULTCOIN365 reported that the company was looking to raise $200 million in order to go public on the Nasdaq stock exchange.

    The company filed for an initial public offering (IPO) with the Securities and Exchange Commission last week in order to raise up to $100 million. Later this year, the company plans to list its shares under the ticker REN.

    Sergienko’s ascension to fame

    Finally, based in Sydney Sergei Sergienko came in 60th place with a net worth of 97 million AUD ($72.5 million), thanks in part to his work with Chronobank, a blockchain-based firm he founded in 2016 that streamlines recruiting processes and allows workers to be paid in crypto assets.

    “With blockchain technology, the company empowers HR and recruitment professionals while also enabling global freelancers to secure the best jobs and ensure they are paid quickly and fairly,” according to Chronobank’s website.

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