Who qualifies for a black card?

I'm curious to understand who actually qualifies for a so-called 'black card' in the world of cryptocurrency and finance. Is it simply a matter of wealth, where individuals with significant crypto holdings are automatically eligible? Or does it require a deeper understanding of the market, perhaps demonstrated through a track record of successful investments? Could it be a matter of influence, where industry leaders and key opinion makers are granted access? I'd appreciate if you could elaborate on the criteria that typically determine eligibility for such an esteemed status.