With the crash of crypto value in recent times, the portfolio and wealth of crypto billionaires have plummeted greatly. During the bull market and the growth in the value of cryptocurrencies, quite a number of crypto billionaires were birthed.
This article analyzes how some leaders in the crypto space have lost quite a lot from the downturn in crypto prices.
Impacted by Crypto Crash
• Changpeng Zhao
Changpeng Zhao is fondly known in the crypto space as CZ. He is the founder and CEO of Binance, a notable crypto exchange that currently occupied the top position based on trading volume. As a result of the crypto crash, his net worth plummeted to $14.9 billion from $65 billion.
• Sam Bankman-Fried
Sam Bankman-Fried is the face behind FTX, another popular crypto exchange. He began the exchange and has occupied the position of CEO for a while. His net worth plummeted from $24 billion to $ 11.3 billion.
Ultimately his exchange the FTX filed for bankruptcy.
• Brian Armstrong
Another crypto exchange founder who was affected by the crypto crash in 2022 is Brian Armstrong, the founder, and CEO of Coinbase. As a result of the crash, he is no longer a billionaire. His net worth was sitting at $6.6 billion before the debacle.
• Gary Wang
Another co-founder of FTX was also affected by the crypto crash that the industry is facing at the moment. Gary Wang had a wealth that was sitting at $ 5.9 billion, but after the crash, he is no longer listed as a billionaire.
• Chris Larsen
Chris Larsen is the executive chairman and co-founder of Ripple, a blockchain company with crypto called XRP. Before the crash, Larsen had a wealth portfolio of $4.3 billion, but his billionaire status no longer exist after the crash.
He also had to pursue a case against SEC during this period.
• Cameron Winklevoss and Tyler Winklevoss
Before the crash, two tech wizards that doubled as twins had a fortune of $4 billion each drastically reduced after the red market began.