How the Portfolios of Crypto Prominents and VCs Performed in 2022: Analysis

In the end, 2022 proved to be a difficult year for the cryptocurrency industry and many companies and investors went bankrupt as a result — but how did the portfolios of top institutions and insiders fare?

Vitalik Buteren – Co-founder of Ethereum (ETH) and the undisputed frontman of the ecosystem — had $1.3 billion worth of assets on their publicly known wallet addresses as of January 1, 2022. As of press time, the value of that wallet had increased once again to $423 million.

How Portfolios of Crypto Celebrities and VCs Performed in 2022: Analysis - 1
Vitalik Buterin’s leading wallet profit and loss chart. Source: Arkham Intelligence

Buterin’s top assets are $316 million worth of Ethereum, which makes up nearly all of his holdings, followed by the highly volatile mimecoin Shikoku (Shack) worth about $9 million. All other assets held in his wallet are worth less than a million dollars, according to data from Arkham Intelligence.

The price of ETH – the cryptocurrency and ecosystem most used by Buterin – was around $770 at the start of 2022, and is currently trading at $1,612. Despite this increase in value, Buterin’s wallets now hold significantly fewer assets, partly due to numerous outgoing transactions and the declining value of several tokens.

Some of Buterin’s biggest outflows of 2022 included $60.25 million worth of Ethereum, two transactions that sent a total of $100 million and $48 million to the $50 million stablecoin USD Coin (USDC). This is not a complete list of outgoing transactions processed last year, and in fact, there are many that are worth millions.

Additionally, Bitrine also has a number of tokens from the Ethereum ecosystem – most of which are speculative tokens (later memecoins) – that are sent to it to promote projects. In addition to his 250,147, he has 500 trillion SHIK tokens, 300 trillion JINDOGE, 92,870,135 trillion ELONGATE DELUXE (ELONGD), 250 trillion DOGE INU (DINU), 450 trillion dollars in other memecoins.

Buterin was – perhaps entirely unintentionally – a major crypto figure most exposed in the latest crypto growth market cycle memecoin explosion. As a result, the value of its leading on-chain assets soared to a staggering valuation of more than $20 billion at the end of 2021, only to collapse a billion days later.

Recent on-chain analysis of Bitcoin wallet activity revealed That he deposits almost exclusively at cryptocurrency exchange Coinbase — showing a preference he’s never expressed in any other way.

Justin Sun — founder of Tron ( TRX ) and owner of file-sharing protocol developer BitTorrent ( BTT ) as well as crypto exchange Huobi — had assets worth $2.9 billion as of January 1, 2022.

On January 1, 2023, these wallets held $499 million, representing a decline of 82.8 percent. As of press time, the digital assets in its publicly known wallets are worth $641 million, and the value of its assets is down to just $521 million, representing an 82% decline.

How Portfolios of Crypto Celebrities and VCs Performed in 2022: Analysis - 2
Justin Sun’s Leading Wallet Profit and Loss Chart. Source: Arkham Intelligence

According to Arkham Intelligence, Sun’s top holding is Ethereum, worth about $430 million, followed by TRON DAO’s $60 million stablecoin USDD and $10 million Compound.Finance (COMP) collected stablecoin USD coin (USDC). Represented by CUSDC Tucker.

Additionally, he has $8.55 million of real USD (TUSD) deposited in Aave (AAVE) and Aave TUSD (ATUSD) tokens, $3.85 million in Maker (MKR), $1.91 million in Aave-deposited Binance USD (BUSD) as Aave BUSD. (ABUSD), $1.64 million Aave accumulated wrapped Bitcoin (WBTC) as Aave WBTC (AWBTC) and $1.08 million worth of dYdX (DYDX) tokens. All other holdings are valued at less than $1 million.

The top outgoing transactions of 2022 included $359 million of Tether (USDT) sent to a Bitfinex deposit, a $200 million USDC Binance deposit, and a $161 million transfer of USDC. Finally, USDC Circle has seven deposits with a total value of more than $1.37 billion.

According to Sun, he uses most of his wealth to enhance the ecosystem in which he is involved. As we did before ReportedIn mid-December, it transferred $150 million of BUSD from Ethereum by withdrawing from Binance and depositing stablecoin issuer Paxos.

Pantera Capital— one of the top cryptocurrency venture capital firms — had a wallet worth just $62 million as of January 1, 2022.

As of January 1, 2023, the same wallets held just over $4.5 million representing a 93% reduction in known wallets. As of press time, the value of assets on these wallets grew to $4.7 million.

How Portfolios of Crypto Celebrities and VCs Performed in 2022: Analysis - 3
Pantera Capital’s leading wallet profit and loss chart. Source: Arkham Intelligence

Publicly managed wallets. Binance Labs — the venture capital arm of the world’s top crypto exchange Binance — had $33 million worth of assets as of January 1, 2022. It quickly dropped more than 95 percent to just $1.4 million on the first day of the year and has grown. Back at $1.95 million at press time.

How Portfolios of Crypto Celebrities and VCs Performed in 2022: Analysis - 4
Profit and loss chart of leading Binance wallets. Source: Arkham Intelligence

Addresses linked to a major crypto venture capital firm Polychain Capital It held assets worth $185 million on January 1, 2022. As of January 1 this year, the firm had $11 million – down 94% from a year ago, and $18.1 million at the time of writing.

While the data is incomplete — especially considering that it’s unlikely. All The addresses used by the entities examined in the article are publicly known—showing that the downturn in cryptocurrency has caused many large holders to shrink their assets or sell off to avoid further losses.

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