According to Forbes, a bear market and a wave of bankruptcies in the crypto industry has caused founders and heads of crypto projects to lose a total of about $116 billion in the past nine months.
In March, Changpeng Zhao’s stake in Binance was valued at $65 billion, today at $4.5 billion.
Coinbase CEO Brian Armstrong’s fortune is now valued at $1.5 billion, but was around $6 billion in March.
Ripple co-founder Chris Larsen fell from $4.3 billion to $2.1 billion.
And the fortune of Gemini exchange co-founders Cameron and Tyler Winklevoss dropped from $4 billion to $1.1 billion.
Among those who lost billionaire status were FTX co-founders Sam Bankman-Fried and Gary Wang, whose assets were valued at $24 billion and $5.9 billion respectively in March and already at $0 in December.
According to Forbes, Digital Currency Group founder and CEO Barry Silbert also completely lost his $3.2 billion fortune due to the problems caused by the collapse of FTX.
Holpop News
Holpop News
In the last 9 months, cryptocurrency CEOs have lost about $116 billion
posted on December 25, 2022 by holpop in Blockchain
