While the bear market in the crypto money industry has caused billions of dollars in losses, especially in the last 9 months, many prominent names have lost their billionaire status.
forbes According to the report presented by the bear market and the bankruptcies experienced in the last 9 months, cryptocurrency billionaires $116 billion led to his loss. Cryptocurrency industry leader 17 of your names According to the report in which 10 experienced personal wealth with the decline He lost most of his billionaire status.
Biggest loss belongs to Binance CEO
On the other hand, according to the presented report, the biggest loss is Binance CEO Changpeng Zhao(CZ). Binance’s 70% The total assets of CZ, which owns the shares, in March 65 billion dollars in the month of December we are in 4.5 billion dollars as much as it declined.
Another leading cryptocurrency exchange coinbase‘s CEO Brian Armstrong’s fortune in March 6 billion dollars from the level 1.5 billion dollars is expected to fall. Ripple wealth of co-founder Chris Larsen From $4.3 billion to $2.1 billion another cryptocurrency exchange Gemini‘s founders Winklevoss brothers Cameron and Tyler’s $4 billion worth in March total assets is currently in place 2.2 billion dollars left.
From $24 billion to zero: Sam Bankman-Fried
FTX co-founders among those who lost their billionaire status Sam Bankman-Fried and Gary Wang also took place. Their wealth in March, in order 24 billion dollars and $5.9 billion The financial situation of the founding partners, who arenoneis referred to as “.
a venture capital firm Ripple Ventures founder Matt Cohen in his statement, “We’re at the breaking point in crypto right now where everyone has to stop and say, ‘OK, we’ve seen a ton of economic wealth disappear in the last few months, we need to start taking this seriously. In addition to his statements, he added:
Many blockchain tech and crypto companies have come up with solutions for issues that don’t need to be fixed, and I think we’re going to have a hard reset now.
As well as individuals who went bankrupt and suffered great losses stuck in debt There are also companies. One of them is the giant investor of the crypto money industry. Digital Currency Group (DCG) is coming. According to the data, it is one of the most important subsidiaries of DCG. of Genesis creditors at least $1.8 billion has debt. With this DCG also bankrupt hedge fund To Three Arrows Capital (3AC) resulting from a loan 1.1 billion dollar has an obligation.