Crypto Billionaires Lost Billions After Bitcoin Price Decline – Report.

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Crypto Billionaires Lost Billions After Bitcoin Price Decline – Report.

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.

Numerous investors and traders incurred enormous losses. What About Billionaires, though? How much Billionaires Networth decreased due to Bitcoin Price Declines?

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%)

Cameron and Tyler Winklevoss

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.

Michael Novogratz, CEO – Galaxy Digital

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 CEO- Brian Armstrong

Armstrong’s own wealth has decreased in parallel with the value of Coinbase’s shares, which has decreased by more than 80 percent during the same period of time. Armstrong is the owner of around 16 percent of the total shares.

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.