Crypto’s richest man has lost nearly $ 60 billion in a serious cryptocurrency crash in recent weeks

Opportunities rise and fall in the dynamic cryptocurrency world, but over the last few weeks, they have only moved in one direction – down.

The total price of all the amazing crypto tokens has dropped by more than 26%, and Bitcoin has dropped by 25% since March 11th. Forbes Counted 19 crypto billionaires. They are now 16 billionaires Forbes Estimates.

For net crypto companies, whose net value is related to the Token price, it was a few weeks. The 11 richest individuals in the industry have lost a total of nearly $ 60 billion. Forbes Calculates the collapse of crypto, which has wiped out a market value of nearly $ 400 billion.

One person played a major role in that loss. Binance CEO Changpeng Jao ​​(CZ) became the industry’s richest man in March with a net worth of $ 65 billion. (Binance has previously announced plans to invest Forbes Special Purchasing Car). Today, Forbes Coinbase, Binance’s official market capitalization, is estimated to be worth $ 17.4 billion. CZ does not mean worry. Former Billionaire Sweep to the side Guess the wealth, Posted on Twitter. Wednesday: “We must respect the market, and be careful. It goes up and down the cycle. Especially not always meaningful ”

The founders of Brian Armstrong and Fred Ehrmacht, the publicly traded crypto exchange Coinbase, have both lost more than half of their assets. Armstrong, Coinbase’s chief executive, is valued at $ 2.8 billion, down $ 6.6 billion on March 11. Ehrsam, which left the company in 2017, fell from billionaire rankings; Forbes His fortune is estimated at $ 986 million. Coinbase shares, which closed at $ 67.87, fell 57% as of March 11, and fell $ 343 80%, the highest level since November.

On Sunday, Ihrsam — a clear vote of confidence for crypto—Posted on Twitter. Photo of The big shortA.D. Michael Barry (played by Christian Husband) is a well-known hedge fund investor who successfully shortened the housing market in 2008. Tuesday Armstrong Prohibited Coinbase is at risk of bankruptcy after a public file hit investors.

Michael Bull, CEO of Bitcoin Bull and Software Company Microstrate, is no longer a billionaire. Market turmoil has doubled for Silicon, hitting 17,732 Bitcoin and Micro Strategy shares by 47% since March 11.

MicroStrategy shares are closely linked to Bitcoin prices, as the company has spent more than $ 4.5 billion on cryptocurrency, with an average value of $ 30,700. That investment is currently in the water, with Bitcoin trading at around $ 30,030 starting at 4:00 p.m. Like his peers, Sailor did not seem to be worried. “The greatest thing is yet to come,” he said. Posted on Twitter. Friday morning.

Blockchain-based payment systems Ripple and Jed McLeleb and Chris Larson each lost $ 300 million and $ 1.1 billion respectively. XRP (Ripple Native Simulation) dropped by 50%. Venture Capitalist Tim Draper, who bought 30,000 Bitcoin in a bid to buy Bitcoin from Silk Road, has also left the club.

The assets of crypto tycoons frozen in venture-supported companies have not yet been registered – for now, at least. That’s why Sam Bankman-Freed, the founder of crypto trading platform FTX, is still worth $ 21 billion, down from $ 3 billion since March. FTX raised $ 400 million in January at a cost of $ 32 billion, and institutional investors such as the Ontario Teachers Retirement Plan Board jumped on the crypto table. On Thursday, Banman-Freed announced that it had gained 7.6% of its share in Robinwood, a popular business app for crypto investors and retailers.

The same is true for Cameron and Tyler Winklevos: Mark Zuckerberg College Nimees, Bitcoin billionaires have changed. The twins’ Bitcoin holdings have collapsed, but Gemini, the private crypto-currency they set up and run, is still valued at $ 7.1 billion, based on the November fundraising round.

Not surprisingly, there is little sympathy for crypto rich people.

“Crypto billionaires are still crypto billionaires,” said Scott Walker, a digital asset investor and podcaster. Forbes. The biggest concern is all the small investors who were in the crypt and lost everything.