Australian crypto entrepreneur Kain Warwick rose to fame through his company Synthetix. Still, there’s nothing fake about the glass Manhattan penthouse he just listed through real estate agent Ryan Serhant for $36.5 million.
The house has a distinctive structure: a glass mansion atop a nine-story limestone-clad apartment building containing ten luxury apartments. The West Village home consists of four levels and 7,500 square feet of interior space and is mirrored by a similar structure on an opposite building.
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Warwick founded Synthetix – a cryptocurrency-focused derivatives platform – in 2016 and bought the penthouse in 2021 for $30.65 million. The crypto king is estimated to be worth $211 million and made his fortune by offering people a way to lend their cryptocurrencies to others. , which they would then use to help develop new blockchain products.
In addition to Synthetix, Warwick runs Blueshyft, which connects traditional companies with the digital world. Blueshyft specializes in making it easier for people to buy digital assets like cryptocurrency in physical stores and is aimed at people new to crypto. The value of the company is estimated at more than $50 million.
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Warwick, 43, went on a post-lockdown shopping spree in 2021, purchasing an $8 million home in Sydney for his parents – Allana and Kim Warwick, the latter a renowned tennis legend and six-time grand slam champion. According to Australia’s Financial Review, Kain Warwick bought the house in the company name he owns with his wife Raphaella from online gambling website founder Joshua Chan, three times the $4.55 million Chan paid for the house in 2012.
Warwick also acquired a six-bedroom home with a pool in North Bondi for $3.23 million in May, followed by his $10.62 million purchase of the Tamarama home from McGrath Estate Agents board member Shane Smollen.
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Crypto runs in the Warwick family. Kain’s brothers, Kieran, Aaron and Grant, are co-founders of the crypto-based computer game Illuvium. Some reports estimate their net worth at over $600 million each. Younger brother Grant, art director on the project, recently resigned from the company.
In a 2022 interview, Aaron Warwick explained how the four brothers became so successful and how they worked together.
“Kain has, I think, acted more as an advisor on all things blockchain, and he was also an early investor in the project. He has his stuff he’s working on that’s even bigger than Illuvium… We’re all involved in the game in some capacity or another,” he said.
Australia has become a haven for cryptocurrency multi-millionaires, with many of the ultra-wealthy trading digital fortunes for luxury real estate in Sydney, Melbourne and elsewhere. However, Reserve Bank of Australia (RBA) Governor Michele Bullock has recently sharply criticized crypto, saying digital assets such as Bitcoin have no role in the Australian economy.
“It’s not a coin, it’s not money; it is used as an asset class. I don’t see a role for it in the Australian economy or the Australian payments system,” she said, as she was reprimanded by industry experts in Dycrypt – a crypto news site – as the currency soared in light of Trump’s election victory .
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This article A $36 Million Manhattan Glass Box Penthouse From a Crypto Tycoon and Luxury Real Estate Investor is listed by Netflix Realty Star Ryan Serhant originally appeared on Benzinga.com
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