While small investors fear for their savings because their investments in Bitcoin, Ethereum and other cryptocurrencies are melting away, they may have already lost their money in the wake of the Terra crash or are currently putting all their hopes in saving the Celsius network, they too richest people in crypto space are currently nothing to laugh about.
The business medium Bloomberg recently updated its “Billionaires Index” with the latest figures. In the period from November 9th, 2021 to June 13th this year, the index casts a dark shadow over the fortunes of crypto CEOs. November 9th represents the previous all-time high of the Bitcoin price at around 69,000 US dollars.
Crypto crash: Changpeng Zhao loses $85 billion
Changpeng Zhao, the CEO of the world’s largest crypto exchange Binance, is known to most by his acronym “CZ”. The Chinese native was valued at $95.8 billion by Bloomberg as of November 9 last year. As of today, June 15, he ranks 190th in the Billionaires Index – current wealth: $10.2 billion.
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Samuel Bankman-Fried, Brian Armstrong and Co. with heavy losses
The fortune of Samuel Bankman-Fried, CEO of crypto exchange FTX, is approaching that of the Binance boss thanks to Changpeng Zhao’s extreme losses. It is true that “SBF” also loses almost half of its assets with losses from 15.1 to 8.9 billion US dollars. Now, however, only $1.3 billion separates him from his colleague.
The losses are also dramatic for Coinbase boss Brian Armstrong, who is currently making negative headlines with a large wave of layoffs. Armstrong’s fortune has dropped from $13.7 billion to $2.1 billion. If you look up his name in the Bloomberg Billionaires Index, there are no hits: he is no longer one of the richest of the rich as of now.
Crypto celebrities like Mike Novogratz ($8.5 billion to $2.1 billion), Fred Ehrsam ($4.5 billion to $2.1 billion), and the Winklevoss twins ($3.8 billion each to 3 billion US dollars) also no longer appear in the ranking.
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