Said Gutseriev sold shares in three crypto-exchanges and earned $ 150 million
This is an automatic translation.
Click here to read the publication in the original language.
Biography
The son of a prominent Russian businessman Mikhail Gutseriev .
2017-2018
Said Gutseriev began investing in the cryptocurrency industry in 2017. The businessman invested $ 25 million in Capital.com from Prokopenya. Then they invested $ 10 million for two in the Currency.com crypto exchange.
In 2018, Said Gutseriev founded the Zubr.io crypto derivatives exchange, which he registered in Gibraltar. Investments in the project for the year exceeded 4 million euros.
2019: Start of the cryptoexchange Currency.com
Crypto exchange Currency.com was created and launched on January 15, 2019 by Belarusian entrepreneur Viktor Prokopenya and the son of Russian billionaire Mikhail Gutseriev Said Gutseriev. Their investment companies VP Capital and Larnabel Ventures invested about $ 10 million in a project they immodestly called "the world's first regulated full-featured platform for tokenized exchange-traded assets" [1] . The exchange, say its founders, will be of interest primarily to those who are already holders of cryptocurrencies , since it provides an opportunity to invest them, and not just sell for fiat money. More details here .
2021
Member of the Board of Directors of PJSC M.video
In May 2021, Gutseriev Said Mikhailovich joined the Board of Directors of PJSC M.video as a non-executive director. More details here .
Sale of a stake in three crypto-exchanges, income - $ 150 million
On August 18, 2021, it became known about the exit of Said Gutseriev from the capital of three cryptocurrency exchanges: Currency.com , Capital.com and Zubr.io. Vedomosti writes about this with reference to company statements and a representative of the businessman himself, who is a member of the board of directors of Safmar Financial Investments and M.Video .
According to a source familiar with the terms of the deals, Gutseriev could earn about $ 150 million from the sale of crypto exchanges. Officially, the amount of the deals was not disclosed.
The buyers of Gutseriev's stakes in crypto exchanges were the international FTX trading platform and the entrepreneur's partner at Currency.com and Capital.com, Belarusian businessman Viktor Prokopenya, who owns the VP Capital holding. VP Capital's spokesman Prokopeni confirmed this.
The interlocutors of the publication note that among the three main sources of earnings for crypto exchanges are commissions for transactions, sale of their own tokens in which transactions are carried out, and fees for placing crypto project tokens.
 | We believe that crypto exchanges and blockchain technology in general are ingenious and they take a long time to come. These are technologies that can be used for different industries, not only for cryptocurrencies, says Said Gutseriev in an interview with Forbes . |  |
The entrepreneur began to get rid of shares in cryptocurrency projects in the first half of 2021. By August 18, Forbes estimates Gutseriev's fortune at $ 1.7 billion. [2]
Notes (edit)
This is an automatic translation.
Click here to read the publication in the original language.
