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November 21, 2024
The net worth of Erik Voorhees, the founder, and CEO of ShapeShift, was evaluated to be around $30 million as of August 17, 2023. His fortune is largely attributed to his considerable holdings of ShapeShift’s native token, FOX.
Erik Voorhees is the founder and CEO of ShapeShift, a cryptocurrency exchange that allows users to swap between different cryptocurrencies without the need to create an account. Voorhees is well known to be a person who believes in the power of cryptocurrencies to revolutionize the financial system
Erik’s wealth accumulation is believed to be mostly attributable to his early involvement in the cryptocurrency industry and the establishment of ShapeShift. His acute understanding of blockchain technology and cryptocurrencies has enabled him to be at the front line of the industry’s growth process. In addition, his educational contributions through blogs, speaking events, and social media have reinforced his standing as a leading figure in the cryptocurrency community. He was also an early investor of Bitcoin (BTC), when it was still in the triple digits.
Voorhees was born in 1983 in New Mexico. He studied computer science at the University of New Mexico, however, he dropped out in order to pursue a career in entrepreneurship. In 2011, he founded BitInstant, a Bitcoin exchange that was one of the first to allow users to buy and sell Bitcoin with fiat currency.
BitInstant was closed in 2013 after allegations of its aiding money laundering schemes. Voorhees then, in 2014, founded ShapeShift. ShapeShift is a non-custodial exchange, which means that it does not hold users’ funds at all. This makes the platform a preferred and more secure option for storing cryptocurrencies.
ShapeShift has grown to become one of the most popular cryptocurrency exchanges in the world. It has processed over $100 billion in transactions and has over 1 million users.
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