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RELATED: <\/b>Who are the world\u2019s richest billionaires aged under 30?<\/b><\/a><\/p>\n Changpeng Zhao, founder and chief executive of cryptocurrency trading platform Binance, is the world\u2019s richest crypto billionaire with a net worth of $65 billion, according to Forbes<\/i>\u2019 2022 World Billionaires List<\/a>.<\/p>\n Mr Zhao, also known as \u201cCZ\u201d, owns an estimated 70 per cent of the world\u2019s largest cryptocurrency exchange, which this week received in-principle approval<\/a> from Abu Dhabi Global Market to operate as a broker-dealer in virtual assets in the UAE capital.<\/p>\n Last month, Binance also secured a virtual asset licence<\/a> to operate in Dubai after the emirate outlined clear regulations to govern emerging technology sectors such as cryptocurrencies in an effort to safeguard investors.<\/p>\n\n The Forbes<\/i> list, which used stock prices and exchange rates from March 11 to calculate the personal fortunes of the world\u2019s richest people, features a record 19 billionaires who made their money from cryptocurrency and blockchain technology \u2013 seven more than in 2021.<\/p>\n \u201cIt\u2019s been a wild 12 months for the world of cryptocurrencies, from the Elon Musk-fuelled<\/a> ascent of Dogecoin, to Web3 innovations and non-fungible tokens [NFTs], to the wild swings in Bitcoin and other crypto tokens,\u201d Forbes<\/i> said.<\/p>\n \u201cAmid all the action, there\u2019s also no shortage of money to be made in the $2 trillion crypto economy.\u201d<\/p>\n Last November, Bitcoin reached an all-time high<\/a> of $68,000, then crashed in January to settle just above $35,000. Today, the digital token is trading in the $41,280 range.<\/p>\n Last week, Forbes<\/i> declared Elon Musk, founder and chief executive of electric car maker Tesla, the world\u2019s richest person<\/a>, with a net worth of $219bn.<\/p>\n However, the Russia-Ukraine crisis, Covid-19 pandemic and volatile stock markets have taken a toll on the combined wealth of the world\u2019s richest people, which slipped 3 per cent to $12.7 trillion over the past year, from a record $13.1tn in 2021.<\/p>\n In total, there are 2,668 billionaires in the world, down from an all-time high of 2,755 last year.<\/p>\n<\/p>\n Meanwhile, Sam Bankman-Fried, co-founder and chief executive of global cryptocurrency exchange FTX, was ranked as the second-wealthiest crypto billionaire with a personal fortune of $24bn, followed by Coinbase co-founder Brian Armstrong with a net worth of $6.6bn.<\/p>\n