Forex Trading, Crypto and Remotasks, have led to the quick rise of Young Kenyan Millionaire's, often associated with Posh cars, Excessive Partying and Splashing cash without a care in the world.
Just like as quick as their rise, so is their fall. A month after a young Kenyan 'Forex Billionaire' was found lifeless under unclear circumstances in an Airbnb in the coastal city of Mombasa, another young 'Forex millionaire is dead.
The Kirinyaga University Student, Popularly known as Evance Akoko Billionaire died yesterday, November 17, in Nairobi under mysterious circumstances.
Akoko was a close friend to Denno Bright, who passed away last month in Mombasa. Denno and Akoko were pictured together hanging out at popular entertainment joints in the city, cruising in posh rides.
Allegedly, both were doing cryptocurrency, forex trading and Remote Tasks jobs, earning a living online.
Denno's body was discovered in a Mombasa apartment on October 10, 2024, after he reportedly collapsed during a social gathering. The post-mortem also revealed signs of a depressed central nervous system and acute pancreatitis, conditions often linked to excessive alcohol or substance use.
According to the autopsy report, Bright's untimely death resulted from heart-related issues.
However, the sudden death of his ally has fuelled speculation on Kenyan Social media platforms with some Netizen's hinting at a 'deal gone bad' motive behind the deaths.
Prior to Denno's death, the young billionaire had acquired a G-Wagon, adding to his collection of several posh rides. His friend, Akoko, owned a Mercedes Benz and several other high-end rides.
Meanwhile, the number of crypto millionaires worldwide in general soared to 172,300, up from just 88,200 last year.
The rapid increase in crypto millionaires comes as newly approved spot ETFs in the US have pushed bitcoin to new highs in 2024. It his an all-time high above $73,000 in March. It has since pared that gain but is still up by about 45% to around $64,000. The price of bitcoin us up 138% in the last 12 months.
New bitcoin ETFs have garnered over $50 billion in assets since hitting the market in January after a yearslong struggle to get the funds approved by the Securities and Exchange Commission.
Of the six new crypto billionaires created over the past year, five came from Bitcoin, underscoring its dominant position when it comes to attracting long-term investors who buy large holdings.
Investors are now preparing for potential Solana ETFs, the series of industry milestones has set the stage for broader crypto adoption, "one where digital assets increasingly cross-pollinate with traditional finance and global mobility.