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Los Angeles Fire Zone, Burned-Out Crypto Whales, and At-Risk Mansions

25-01-14 10:31
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This may be the most severe fire in California history.


The city most affected by the fire is Pacific Palisades, where 75% of houses have been leveled; a new round of seasonal strong winds has fueled the wildfire's eastward spread; in addition to Palisades, Los Angeles currently has two other wildfire areas, with surrounding residents facing a serious test.



In the face of this natural fury, even some of Los Angeles' wealthiest communities have not been spared. The mansions that once symbolized the wealth and achievements of European and American celebrities and crypto tycoons are now on the front lines of the disaster.


In the infamous streets of Los Angeles known for wildfires, in addition to these European and American celebrities, there also reside some crypto tycoons and emerging billionaires. Once regarded as symbols of commercial success and opulent residences, they are now facing a direct threat from the merciless natural disaster.


Moonbirds Founder: Residence Completely Destroyed


“Unfortunately, lost everything in the #PacificPalisades fire. Nothing left here.” Moonbirds founder Kevin Rose uploaded a video of his burnt house and community, with a caption next to the video.



Just as shown in his video, Rose's residence in Los Angeles was completely destroyed by the California wildfire.


Rose began his career by founding the website Digg, then became a venture capitalist, being one of the earliest backers of Twitter and Square. Subsequently, in December 2021, during the early NFT boom, he created the Moonbirds project, firmly establishing his reputation.


Last year, Rose sold Moonbirds to Yuga Labs. As part of the deal, Rose became an advisor to Yuga Labs during a “short transition period.” Shortly after the project's launch, through a series of NFT sales events, it quickly attracted over $500 million in sales and received a $50 million investment from Andreessen Horowitz (A16Z).


Rose's reputation peaked with the success of the Moonbirds project. It was also during this time that Rose purchased a new home worth $16.5 million in the Brentwood community of Los Angeles. This celebrity enclave is known for its luxurious properties, and the house Rose bought is a modern design with over 7,600 square feet of space, mostly glass-walled, offering panoramic views of Los Angeles. Unfortunately, this beautiful residence was ultimately completely destroyed in this wildfire.


What many people don't know is that in a past podcast episode, he also revealed the tremendous pressure he experienced from his involvement in an NFT project. He candidly discussed how, due to the explosive growth in NFT transaction volume, he faced health issues such as anxiety, irritable bowel syndrome, high blood pressure, and a brain aneurysm. He even tried ketamine therapy, which ultimately brought him a sense of ease he hadn't felt since his teens.


Seemingly drawing from his past experiences with treatment, Rose also shared some philosophical views on embracing uncertainty during this recent ordeal on social media, hoping to find inner freedom and tranquility through this approach. "When we understand the truth of uncertainty, we become free."


Big Brother: 16 Kilometers from the Fire Area


When it comes to Chinese celebrities in the NFT space, Big Brother's name is widely known.


In June 2023, Taiwanese artist and NFT tycoon Huang Li-cheng (Big Brother) purchased a mansion in the prestigious Bird Streets community in Los Angeles for $25 million. This luxurious estate boasts 14,000 square feet of spacious living space, featuring amenities such as a wine cellar, marble bar, and a large gym, with 5 bedrooms and 8 bathrooms.



It is known that this Bird Streets mansion was initially listed for $34 million and was just completed in early 2022. However, as shown in photos, Big Brother acquired it a year later at a price approximately 75% below the asking price. He now counts celebrities such as Terry Gou, founder of Foxconn, the Winklevoss brothers, and LVMH CEO Bernard Arnault as neighbors.



From the images, the entire house is dominated by beige and brown tones, with a spacious interior designed in an open layout. The floor-to-ceiling windows offer a view of the entire Hollywood Hills, creating a very cozy ambiance.


While Big Brother owns numerous mansions, during today's wildfire season, this Bird Streets mansion, located only 16 kilometers from the Pacific Palisades fire area, may be one of the most nerve-wracking properties for Big Brother.



Ankr Founder: 14 Kilometers from Fire Zone


In the neighborhood adjacent to the Bird Streets mansion community, the homie has a crypto neighbor, Ankr's founder Ryan Fang.


On November 22, 2021, the 27-year-old cryptocurrency entrepreneur purchased a mansion in Los Angeles' affluent neighborhood for $12 million, located near the hills of Doheny Estates, right next to the renowned Bird Streets area. The house was completed in early 2019 and was originally listed for nearly $17 million, but after being on the market for over two years, with multiple price adjustments, it was finally sold to Ryan Fang.


According to the Dirt website, this villa, designed by XTEN Architecture, has a total area of 7,500 square feet, lavishly furnished with five bedrooms and six bathrooms. The design of the house emphasizes a modern flair, with large glass window walls that not only ensure ample natural light but also provide spectacular city views. Its architectural style complements the surrounding Hollywood Hills mansions, with amenities including a spacious living area, a dining area with a marble bar, a fully equipped kitchen, a private theater, and an underground garage with epoxy resin flooring that can accommodate multiple vehicles.


Ryan Fang's personal achievements are equally impressive. A graduate of the University of California, Berkeley, he was once a software engineer at Amazon. Besides founding Ankr Coin, he is also the co-founder of the NFT auction platform Bounce. In 2019, he was named to Forbes' "30 Under 30" list, establishing his influence in the global tech and cryptocurrency field.


This luxury mansion is approximately 14.5 kilometers from the Pacific Palisades fire zone. As of noon on Saturday, firefighters had controlled 11% of the fire, meaning Ankr's founder's mansion is also safe.



Coinbase CEO: 25 Kilometers from Fire Zone


Several months ago, Coinbase's CEO Brian Armstrong held a grand wedding on the lawn of his Los Angeles mansion, a $133 million estate located in the city hit by the recent wildfire. Fortunately, this luxurious mansion was not affected by the wildfire.



This mansion, located at 10671 Chalon Road, Los Angeles, CA 90077, sits on nearly five acres of land and features a 19,000-square-foot main house and a 6,600-square-foot guesthouse, boasting at least 10 bedrooms and 13 bathrooms. The estate is equipped with amenities such as a tennis court, two swimming pools, a car court, a home theater, as well as a spa and gym.


The design of this villa was carried out by the acclaimed British architect John Pawson, known for his iconic minimalist aesthetic. The villa's design follows a "stacked cube" structure, with extensive glass walls and sleek interior decor complemented by spacious oak furniture, creating a modern and comfortable living environment.



The villa originally belonged to Hideki Tomita, the founder of the Japanese recruitment firm Dip Corporation, who purchased this property for $85 million in 2018 and later sold it to Armstrong for $133 million. This transaction is considered one of the most expensive single-family home sales in the history of Los Angeles.


This luxurious estate is located approximately 25.35 kilometers in a straight line from the Pacific Palisades fire zone, with a typical driving distance of about 22 minutes in clear traffic. With sweeping views, sitting inside the spacious glass walls and gazing at the spectacular black smoke westward, Brian Armstrong may have felt a hint of panic. Fortunately, Brian Armstrong and his family are safe and sound at present.



Kraken Former CEO: Mansion in Peril


The former CEO of Kraken may be one of the most anxious among the project founders in the crypto community. In the renowned Brentwood community of Los Angeles, Jesse Powell's luxurious residence is very close to Pacific Palisades.


This co-founder of the cryptocurrency exchange Kraken, although stepping down from the CEO position, has not had a peaceful life. In March 2023, his residence was searched by the Federal Bureau of Investigation (FBI) as part of an investigation into his alleged involvement in hacking and tracking a nonprofit art group.


Meanwhile, this mansion, which was once searched by the FBI, is now facing a serious threat from a wildfire, as its location is adjacent to a high-fire-risk area. According to reports, Powell's residence is only a few miles away from the Pacific Palisades fire zone, and the neighborhood has currently been evacuated.



This proximity is enough to make any resident uneasy, especially during wildfire season. The continuous coverage of the fires and tense evacuation alerts may be causing unprecedented stress for this key figure in the tech and cryptocurrency space.



Jesse Powell also appears to be one of the most concerned figures in the crypto community regarding the fires. Looking at his recent tweets, most of them criticize the government's poor performance in fire control and express concerns for the affected population, showing his attention and anxiety towards the current situation. Therefore, we speculate that in the years following the FBI search, Jesse Powell seems to have not sold this property in Los Angeles, and the property is currently in danger.


PayPal Founder: 16 Kilometers from Fire Zone


As a prominent venture capitalist and co-founder of PayPal, known for orchestrating Elon Musk's ousting from PayPal, Peter Thiel holds a significant position in Silicon Valley.


However, in recent years, Peter Thiel has chosen to publicly support Trump in his political stance, distancing himself from Silicon Valley and actively praising the disruptive potential of cryptocurrency and blockchain technology in public forums, advocating for them as alternatives to traditional financial and government structures. Peter Thiel's investments in Bitcoin and blockchain technology have also increased, with his venture capital firm, Founders Fund, being one of the earliest mainstream institutions to acknowledge and invest in Bitcoin. Their influence in the cryptocurrency field is growing.


In 2018, to move away from the left-leaning Silicon Valley, Peter Thiel relocated his home and investment firm to Los Angeles. His residence in Los Angeles is a luxurious mansion located in the Hollywood area, which Peter Thiel purchased in 2011 for $11.5 million.



The estate is located above Sunset Boulevard and is equipped with various modern amenities, including a large master suite, dining room, family room, gourmet kitchen, and swimming pool, among other facilities. It features four bedrooms, five bathrooms, and indoor-outdoor living spaces with a Hawaiian Islands atmosphere. The 5,870-square-foot property includes a swimming pool and two driveways leading to different streets, making it a rare find in the area's prime location.


The geographical location of this luxury home places it only 16 kilometers away from the nearest wildfire zone, Palisades, posing a potential risk to residential safety.



Others


As wildfires rapidly spread across California, not only endangering the lives of millions of residents but also significantly impacting many companies and individuals in the cryptocurrency industry. In this disaster, many members of the crypto community have not only lost their homes but also irreplaceable assets such as hardware wallets.


The employees of the Santa Monica Bitcoin Office in Los Angeles and Swan Bitcoin, a company that once held the Pacific Bitcoin conference in Santa Monica, are located directly south of the Palisades and Sunset Fire zones, facing the threat of wildfires. Additionally, the headquarters of blockchain service provider BlockDaemon and crypto game developer SuperVerse are also in Los Angeles, while blockchain-based identity authentication and tokenization company SpringLabs is situated near Marina del Ray.



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