Crypto billionaires lost 75% of their wealth in 2022

The richest people in the cryptocurrency industry lost over 75% of their capital in 2022. By counting Forbes, the combined wealth of crypto billionaires has decreased by about $ 110 billion in 12 months, writes RBC Crypto.

Last year, the magazine counted 19 billionaires among the owners of cryptocurrencies, whose total assets were estimated at about $140 billion. Lawsuits, bankruptcies and a drop in the value of assets during the “crypto winter” caused serious damage to the industry – by March 10, 2023, the total capital of crypto billionaires was reduced to $30 billion , and only 9 people retained the title of billionaire.

The first place in the ranking is still occupied by the head of the largest crypto exchange Binance, Changpeng Zhao. His fortune last year was estimated at $65 billion, now it is only $10.5 billion.

In second place is the co-founder of the Stellar and Ripple blockchain projects, the creator of one of the first MtGox crypto exchanges, Jed McCaleb, with a capital of $2.4 billion ($2.5 billion a year earlier).

Third place ($2.2 billion) is shared by Coinbase CEO Brian Armstrong and Ripple Chairman Chris Larsen. The state of the first last year was estimated at $6.6 billion, the second at $4.3 billion.

Followed by the founders of Web3 infrastructure developer Alchemy, Nikhil Viswanathan and Joseph Lau, are each worth $1.8 billion ($2.4 billion a year earlier).

The seventh and eighth places are occupied by the founders of the Gemini exchange brothers Cameron and Tyler Winklevoss. Each of them owns $1.2 billion, and a year earlier the state of each of them was $4 billion.

The list of billionaires is closed by crypto investor Matthew Roszak with a capital of $1.1 billion. In March 2022, his fortune was estimated at $1.4 billion.

From the list of billionaires, the founder of the Upbit exchange Song Chi-hyun, the co-founder of Paradigm and Coinbase Fred Ersam, the founder of MicroStrategy Michael Saylor (now his capital is estimated at $760 million), the venture capital investor Tim Draper, Devin Finzer and Alex Atalla, who founded the NFT marketplace OpenSea and the head of Digital Currency Group Barry Silbert (his fortune decreased from $3.2 billion to $320 million).

The hardest hit were Sam Bankman-Fried and Gary Wang of FTX. Bankman-Fried last year was in second place with a capital of $ 24 billion, now Forbes estimates his fortune at less than $ 10 million. Experts estimated Wang’s fortune at the same amount, a year earlier it was $ 5.9 billion.

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