‘I’m no longer a billionaire’

Vitalik Buterin, co-founder of blockchain platform Ethereum is one of the big losers when the crypto market plunges.

“I’m not a billionaire anymore,” Buterin shared on Twitter yesterday (May 20).

Buterin created Ethereum in 2014 and is the owner of a digital wallet worth about $1.5 billion as of last November. Since then, however, Ether, the cryptocurrency of Ethereum, has dropped 55%.

In February, share with Bloomberg Newsthe 28-year-old founder said that he is comfortable accepting the bearish crypto market.

“The people who know deeply about cryptocurrencies are actually happy when the crypto market shows signs of decline,” he said. investors are hesitant.”

Vitalik Buterin, co-founder of the Ethereum blockchain platform. Photo: Bloomberg

When the pandemic raged in India last year, Buterin donated more than 50 trillion Shiba Inu tokens to the Covid-19 relief fund in the country. At the time, the donation was worth more than $1 billion.

Buterin’s donation represents more than 5% of the total amount of Shiba Inu in circulation and causes the price to drop by about 50%.

The cryptocurrency market has been reeling for a while after the collapse of stablecoin TerraUSD. Changpeng Zhao, the founder of crypto exchange Binance, has seen more than $80 billion — or 84% of his assets — evaporate this year, according to a report from Cointelegraph. Bloomberg Billionaire Index.

Michael Novogratz, founder of crypto merchant bank Galaxy, admitted that TerraUSD was “a big failed idea”. Others, including the billionaire Winklevoss twins, insist that their investments are long-term.

According to Linh Lam