Cryptocurrency moguls and executives who invested millions in the U.S. presidential election in November are now worth billions. The election results led to top cryptocurrency executives becoming extremely wealthy, according to a CoinDesk survey. For example, after the Nov. 5 election, Coinbase CEO Brian Armstrong made a fortune by selling his shares in the company.
Armstrong Sells Coinbase Up $21B
Armstrong received an additional $ 129 million from selling his shares, while Coinbase ’s market capitalization increased by $ 21 billion. Additionally, his $ 6.4 billion investment in Coinbase is about $ 2 billion larger than it was on Election Day. Before the election, oinbase made headlines by donating $ 25 million to Fairshake, a super PAC Armstrong and Coinbase together contributed $ 74 million.
The joint contributions of Ripple and Andreessen Horowitz (a16z), as mentioned in the article. A recent SEC filing revealed that under the ‘ Armstrong Plan,’ he retains 10% ownership of Coinbase and approximately 24 million shares in his trust. Before the election, Armstrong wrote on X that he intended to diversify his holdings by selling some of his shares to invest in “ aspirational projects while retaining the rest of his shares.
XP Soars Boosting Garlinghouse’s
After the election, Ripples native cryptocurrency, XRP, surged from $ 0.50 to $ 2.32, leading to big gains for CEO Brad Garlinghouse as well. According to Garlinghous,e “ Crypto moguls ’ profits have increased by over $ 1 trillion since Trump’s victory. ”Ripple donated $73 million, a1z donated $ 70 million ( including funds earmarked for the 2026 election ).
He’s among the richest billionaires in the United States. So, the CO’s fortune has also seen a big increase. The results indicate that XRP has increased by 54.7 % over the past 30 days, according to CoinMarketCap As a result, its market capitalization is now the third highest among digital assets. ( Garlinghouse, 2017). In addition to his large stash of Ripple’s XRP tokens, the report states that Garlinghouse owns more than 6 % of the company.
After the XRP price spiked, Garlinghouse ’s holdings tripled due to the election. Mark Andreessen and Ben Horowitz of a16z were heavily invested in cryptocurrency startups. After the election, their wealth exceeded their spending on American politics.
What’s Next for Crypto Tycoons?
The post-election surge in cryptocurrency prices and profits for crypto tycoons raises a critical question: what’s next for digital assets? While many investors are optimistic about the future of the crypto market, there are still significant uncertainties that could affect the trajectory of these assets. Regulatory changes, evolving market sentiment, and broader economic conditions will play a major role in shaping the crypto landscape in the coming years.
For crypto tycoons, the key to continued profitability lies in staying ahead of market trends, understanding regulatory developments, and continuing to innovate within the cryptocurrency and blockchain space. As digital assets become more mainstream, the opportunities for profit may increase, but so too will the risks. Investors will need to carefully navigate these risks to ensure sustained success in the rapidly evolving world of cryptocurrency.
Summary
After the US presidential election, cryptocurrency moguls like Brad Garlinghouse ( CEO of Ripple ) and Brian Armstrong ( CEO of Coinbase ) have become immensely wealthy. Armstrong’s sale of Coinbase shares for $ 129 million increased his person by $ 2 billion and increased the company’s market value by $ 21 billion. In addition, Armstrong and Coinbase donated $ 74 million to the campaign. At the same time, Grlinghouse ’s wealth increased significantly as the price of XRP skyrocketed from $ 0.50 to $ 2.32.
