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Ed Craven

Ed Craven (born 1996) is an Australian entrepreneur and self-made billionaire who co-founded , the world's largest cryptocurrency-based , and , a live-streaming platform. In 2017, Craven and his business partner established through their company Easygo, targeting users with casino games, , and other options hosted offshore to navigate regulatory restrictions in many countries. The platform has grown rapidly, reporting $4.7 billion in revenue over the past year according to web analytics data. Craven extended Stake's brand into entertainment and sports, co-founding in 2022 as an alternative to established streaming services with revenue-sharing models favoring creators, and securing title sponsorship for the Sauber Formula 1 team, rebranded as Stake F1 Team Sauber. His ventures have propelled his net worth to $2.8 billion as of October 2025, ranking him among the world's youngest self-made billionaires. Stake's operations in the sector have drawn legal challenges, including lawsuits from regulators over unlicensed activities and investigations in , reflecting broader tensions with authorities seeking to curb offshore crypto betting. Similarly, has encountered criticism for lax moderation allowing problematic content, though Craven has positioned it as prioritizing free expression for streamers.

Early life

Formative years and introduction to

Ed Craven was born in 1996 in . His early exposure to occurred at age 12 during a family cruise, where he won $6,000 in a game, an event that ignited his interest in wagering. As a teenager, Craven engaged deeply with online gaming communities, particularly through , a . At around age 15 in 2011, he connected with future business partner via the game and together they established an in-game , betting on player-versus-player fights, which resulted in their accounts being banned by the game's developers. This experience honed Craven's understanding of virtual economies and risk-based systems, bridging gaming and gambling mechanics. No records indicate formal beyond high school, as Craven pursued entrepreneurial ventures during his late teens while still enrolled in . By age 17 in 2013, Craven had shifted toward applications in betting, co-developing Primedice, an early Bitcoin-based dice game that attracted over $1 million in wagers on its launch day and introduced "provably fair" verification to ensure transparent outcomes. These formative activities in prototypes laid the groundwork for his later ventures, demonstrating an early aptitude for integrating technology with high-stakes wagering platforms.

Career

Founding and growth of Stake.com

Ed Craven and Bijan Tehrani co-founded Stake.com in 2017 as an online casino platform specializing in cryptocurrency gambling. The duo, who first connected as teenagers playing the online game RuneScape in the mid-2000s, had previously launched Easygo in 2016 to develop games for other online casinos. Stake.com was established in Curaçao, leveraging the jurisdiction's licensing to operate internationally while focusing on crypto deposits and withdrawals to bypass traditional banking restrictions. The platform experienced rapid growth amid the cryptocurrency boom, positioning itself as the largest offshore crypto casino by emphasizing provably fair games, diverse betting options including slots, sports, and live dealer experiences. By 2022, Stake.com reported gross gaming revenue of $2.6 billion, reflecting its expansion through aggressive marketing and partnerships with high-profile influencers and sports entities. Revenue climbed to $4.7 billion in subsequent years, driven by increased user adoption and a cumulative total exceeding 253 billion bets placed by mid-2024, up from 65 billion in 2022. Stake.com's ascent included unconventional content-based strategies, such as collaborations with celebrities and sponsorships of major brands, which helped it become the world's seventh-largest group by 2023. The platform's crypto-first model facilitated global accessibility, particularly in unregulated markets, contributing to its dominance in offshore despite regulatory challenges in jurisdictions like and the .

Establishment of Kick.com

Kick.com was established in 2022 by Ed Craven and , co-founders of the Stake.com, through their Australian company Easygo, which specializes in online entertainment and gaming ventures. The platform, operated by Kick Streaming Pty Ltd, emerged as a direct competitor to , emphasizing a creator-first model with a 95/5 revenue split favoring streamers from subscriptions and donations, alongside looser policies that permitted categories like streams banned elsewhere. This structure reflected Craven and Tehrani's strategic intent to address creator dissatisfaction with existing platforms' revenue models and restrictions, particularly following Twitch's September 2022 announcement of content prohibitions, which accelerated Kick's development timeline after years of preliminary ideation. The beta version of Kick.com launched in late 2022, enabling initial testing and streamer onboarding, with the official public rollout occurring in January 2023. Early establishment efforts included consultations with influencers such as streamer for platform design input, rapid partnerships with high-profile creators like and to drive adoption, and sponsorship integrations tied to Stake.com's branding. By March 2023, the platform reported 58 million monthly visitors, doubling from prior months, underscoring its quick traction amid a market gap for alternative streaming economics. Craven's role centered on leveraging Stake's operational expertise in user engagement and crypto payments to underpin Kick's infrastructure, while prioritizing sustainable growth over aggressive marketing; the platform achieved profitability in its first quarter of 2023 without external venture funding. Strategic expansions, such as mobile app development launched in March 2023 and deals with entities like UFC and Formula 1, further solidified its positioning as a viable Twitch alternative focused on live video, chat, and viewer interactivity.

Expansion into other ventures

In 2025, Craven diversified his portfolio by founding Maincode, a Melbourne-based startup focused on developing Australia's first sovereign to rival international chatbots like . The company operates under parent entity MCEC Tech, where corporate registrations list Craven as the sole shareholder, marking a shift from his core gambling and streaming operations into . This venture aims to create a domestically controlled system, emphasizing amid global concerns over foreign tech dominance. Craven has committed millions in funding to Maincode, though exact figures remain undisclosed, and has pursued aggressive talent acquisition to build the team. Recruitment efforts include offering up to $100,000 sign-on bonuses to engineers poached from leading Australian firms such as and , reflecting a strategy to rapidly scale technical expertise. Industry observers note potential synergies with Craven's existing platforms, as AI integration could enhance features in Stake.com's gaming algorithms or Kick.com's and recommendation systems. This expansion underscores Craven's broader ambition to leverage cryptocurrency-derived wealth into high-growth tech sectors, though Maincode remains in early stages with no public revenue data as of October 2025. Unlike his ventures, which operate in regulated markets, Maincode navigates Australia's nascent policy landscape without specified partnerships or timelines for product launch.

Controversies and criticisms

Legal battles and lawsuits

In August 2025, the City Attorney filed a civil in against Stake.us (operated by Sweepstakes Ltd.), Streaming Pty Ltd., co-founders Ed Craven and , and various game suppliers and compliance vendors, alleging the operation of an unlicensed enterprise in violation of California's Unfair Competition Law and Law. The complaint claims that Stake.us, marketed as a "free-to-play" social using virtual currencies like gold coins and redeemable Stake Cash, functions as a disguised real-money platform that preys on Californians, with serving as a promotional tool to drive traffic to the . It seeks injunctive relief to halt operations, of profits, and civil penalties, while attempting to pierce the corporate veil to hold Craven and Tehrani personally liable. A protracted dispute involving Craven and Tehrani centers on lawsuits with former business associate Christopher Freeman. In September 2022, Freeman initiated Freeman v. Stake.com et al. in the U.S. District Court for the Southern District of (Case No. 1:22-cv-07002), seeking up to $600 million in damages for alleged , , and of secrets, claiming Craven and Tehrani concealed their intent to launch using and ousted him from in the venture after he contributed to its development via affiliates like SliceMedia. In response, entities linked to Craven and Tehrani filed a countersuit in state court in 2023 for $247 million, accusing Freeman of embezzling 1,280 (valued at approximately $106 million at the time) from a wallet associated with their operations. U.S. courts dismissed portions of Freeman's New York claims without prejudice in 2023, citing insufficient pleading of elements, though the case persists with amended filings and ongoing discovery as of mid-2024; the theft allegations faced partial dismissal but were refiled. In , .com faces an by authorities following the August 2025 death of streamer Raphaël "Graven" from exhaustion after a 12-day live broadcast, with allegations of under a 2004 law governing online for failing to intervene in dangerous streams. While not a direct lawsuit against Craven personally, the probe implicates 's oversight practices, and the platform has stated it is cooperating with officials. No resolution has been reported as of October 2025.

Ethical and public backlash

Stake.com, co-founded by Craven, has faced criticism for inadequate safeguards against gambling addiction and underage participation, particularly in jurisdictions with lax regulations. An investigation revealed that the platform could exploit weak controls, allowing British customers to wager without sufficient protections like stake limits or enforcement, despite sponsorships with clubs such as . Critics argue this prioritizes revenue over user welfare, given cryptocurrency's volatility amplifying financial risks for vulnerable players. Craven's involvement in Kick.com has drawn ethical scrutiny for embedding gambling promotion within live streaming, targeting younger demographics through influencer partnerships. The platform's tolerance of gambling streams, despite optional blocks on recommendations, has been condemned for normalizing high-stakes betting akin to casino environments, potentially exacerbating addiction among viewers. Incidents such as the live broadcast of a French streamer's suicide on August 18, 2025, highlighted Kick's permissive moderation policies, which permit content involving violence or humiliation without automatic demonetization, prompting calls for stricter oversight. Public backlash intensified from high-profile figures and regulators. Rapper publicly denounced Craven and Kick executives as "noxious gambling degenerates" in August 2025 amid a partnership fallout, citing frustrations over promotional restrictions and platform governance. Streamer Tyler "Trainwreckstv" Niknam, a Kick ambassador, accused of "" practices in March 2024, alleging disputes with Craven over manipulated gambling outcomes and player losses. In August 2025, the City Attorney sued Stake.us, Kick, and Craven for operating an unlicensed sweepstakes casino targeting Californians, including vulnerable groups, underscoring ethical lapses in jurisdictional compliance. Additionally, Craven faced accusations in 2023 of encouraging "incredibly inappropriate" behavior toward a female during a Kick stream, fueling debates on platform accountability.

Personal life

Wealth and financial status

Ed Craven's wealth primarily stems from his role as co-founder and co-owner of Stake.com, an online cryptocurrency casino launched in 2017, which he established alongside Bijan Tehrani. The platform, recognized as the largest crypto-backed online casino globally, reported $4.7 billion in revenue for the preceding year as of early 2025. Stake.com's operations, focused on cryptocurrency wagering and sports betting, have driven Craven's financial ascent, with the business expanding through sponsorships in sports and entertainment, including Formula 1 teams and high-profile streamers. Forbes estimates Craven's net worth at $2.8 billion as of October 26, 2025, positioning him as a self-made and the second-youngest on their global for individuals under 30. This figure reflects primarily his equity in , valued amid market dynamics and the platform's revenue growth, though exact ownership splits remain undisclosed beyond the co-founder partnership. Australian estimates, such as those from the , have placed his wealth higher at approximately $4.5 billion to $4.8 billion in mid-2025 assessments, potentially accounting for localized valuations or additional private holdings. Craven's financial status extends to co-founding Kick.com, a live-streaming service launched in 2022 as a competitor to , funded through .com's success but not a primary driver. He has diversified into investments, including millions allocated to developing an Australian language model in July 2025, signaling strategic allocation beyond gambling operations. Corporate filings for his private entities reported nearly $500 million in for the year ending mid-2024, underscoring ongoing profitability from core ventures. Despite the opacity of private company finances, Craven maintains a low public profile on personal assets, with no verified reports of major or liquid holdings dominating his portfolio.

Public persona and associations

Ed Craven maintains a low public profile, rarely granting personal interviews and primarily communicating through corporate channels and his Medium blog, where he has published articles on Stake.com's growth and the role of in branding since at least 2022. His media presence is largely tied to business milestones, such as profiling him as a self-made in 2024 for co-founding , emphasizing his shift from early ventures to integration. Craven's closest professional association is with , his co-founder and business partner since launching Easygo in 2016 and in 2017, with the duo sharing operational control and expanding into ventures like Kick.com in 2022. Through and Kick, he has cultivated ties to entertainment figures, including rapper , who has promoted the platforms via high-stakes streams and sponsorships dating back to at least 2022. These platforms have also linked Craven to streaming personalities, such as (Tyler Niknam), a co-founder and advisor who helped recruit talent like and , fostering an ecosystem of creator partnerships amid competition with . Stake's sponsorships extend his associations to sports entities, including Formula 1 teams and UFC events, amplifying visibility without direct personal endorsements from Craven. He occasionally engages publicly on X (formerly ) as @StakeEddie, posting about company updates since at least 2023.

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