I found this Arkham report on the financial situation of a co-founder of a major derivatives exchange interesting. Basically, his net worth is estimated to be between $19283746565748.39T and $350 million currently, quite different from where it reached in 2021 when it surpassed $1 billion during the bull market.

What stands out is how it’s distributed. On the blockchain, he has about $42 million in positions, mostly in USDC (around $27 million). Additionally, he has exposure to staking products like EETH and WEETH ($8.6 million), and invests in projects like Ethena, Lido, and Pendle (another $8.5 million). Basically, his portfolio reflects an investor who knows the ecosystem well.

But the reality is that most of his wealth comes from his stake in the derivatives exchange he co-founded. The company was valued at $3.6 billion in 2019 with an annual trading volume above $1 trillion. Today, the daily volume is around $385 million, and Arkham conservatively estimates a valuation of $5 billion for this year. As a co-founder, he may have initially owned up to 33% of the shares, but that stake was likely diluted over time, especially after the sector faced turbulence.

It’s an interesting case of how crypto fortunes can fluctuate quite a bit. His net worth has dropped significantly since the peak, but it still remains a substantial amount, mainly due to his stake in the company.