Crypto billionaires lost more than 100 billion USD

In which, billionaire Changpeng Zhao – CEO of the world’s largest cryptocurrency exchange Binance, whose assets are currently only valued at nearly 12 billion USD – lost more than 80 billion USD compared to the beginning of this year.

Binance CEO Changpeng Zhao. Photo: Bloomberg

The founder of cryptocurrency exchange Coinbase, Brian Armstrong lost more than 80% of his total fortune to just over $2 billion. Michael Novogratz – CEO of digital bank Galaxy Digital also witnessed a decrease in assets from $8.5 billion at the beginning of November 2021 to $2.5 billion at present.

Bankman-Fried, 30 years old American, is the founder of the exchange FTX. Earlier this year, he was ranked second among the world’s richest crypto billionaires with a fortune of $24 billion, according to the Forbes list published in April. However, the latest data shows that he is currently 11.3. billion USD, ranked 166th in the world.

Chris Larsen, 61, co-founder of Ripple, the blockchain company that creates the XRP token. His fortune is now down from $4.3 billion in April to $3.6 billion, according to Forbes.

The fortunes of crypto billionaires have ballooned over the past two years, but have evaporated recently as a sell-off in tech stocks spread to cryptocurrencies. Bitcoin – the world’s most popular cryptocurrency and Ether have both lost more than 50% since peaking late last year.

Job cryptocurrency market simultaneously “red floor” has contributed to pushing the market value of cryptocurrency exchanges and investment companies in this field plummeting. Currently, Bitcoin has recovered slightly to above $30,000 today (May 13).

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