The Crypto Market has been declining over the previous several weeks, and following the LUNA Collapse, a great deal in crypto has/will change. The crypto community was in complete disbelief when the majority did not see it coming.
Binance CEO – Changpeng Zhao
It seems that Changpeng Zhao, the CEO of Binance, has been affected the most by this. Bloomberg reports that his net worth is now $11.6 billion, a significant decrease from the $96 billion it was in January.
Sam Bankman-Fried – FTX CEO
Sam Bankman-Fried, the founder and CEO of the cryptocurrency exchange FTX, has seen over half of his on-paper fortune evaporate since March and is presently estimated to be worth around $11.3 billion (Down About 50%)
The Winklevoss twins, Cameron and Tyler, are the co-founders of the cryptocurrency exchange Gemini. they have lost approximately forty percent of their personal wealth, which amounts to more than $2 billions each.
Since November, Crypto investor Michael Novogratz, CEO of investment firm Galaxy Digital, has seen his wealth decrease by over $6 billion, and he is now worth somewhere about $2.5 billion.
Coinbase’s stock took a hit this week after the company issued a warning to its customers. The company disclosed unsatisfactory financial results for the first quarter. CEO tried to reassure clients about the stability of the business by saying that the company was not in danger of going bankrupt.