Ethereum (ETH) co-founder and leader Vitalik Buterin now has a tweet cryptocurrency He wrote that he is not a billionaire.
Vitalik Admits His Wealth Is Shrinking
Vitalik admitted that his wealth has dwindled, while responding to a Tweet about other billionaires, such as Elon Musk and Jeff Bezos, who are at the top of the list of the world’s richest people.
Vitalik and Charles Hoskinson among them (Cardano’s da founder) and several other developers, including Joseph Lubin, created the Ethereum platform in 2014. Vitalik’s cryptocurrency wallet had 290,000 ETH tokens, worth $1.5 billion, in November. The current wallet value of the ETH founder is thought to be approximately $574 million.
(btw btw I’m not a billionaire anymore)
— vitalik.eth (@VitalikButerin) May 20, 2022
But since then, the price of the second largest cryptocurrency has dropped by about 55 percent, and with this development, Vitalik’s title as a billionaire is no longer valid.
Crypto Billionaires’ Wealth Is Decreasing
Buterin isn’t the only cryptocurrency billionaire to feel his wealth has been devalued by the recent crash. Recent reports show that the personal wealth of Coinbase CEO Brian Armstrong has dropped to $2.2 billion from a peak of $13.7 billion in November.
Other crypto billionaires who lost large portions of their fortunes include Binance CEO Changpeng Zhao (aka CZ). According to Bloomberg’s ranking of billionaires, CZ’s net worth is down more than $80 billion (84 percent of his wealth is gone).
Buterin, 27, became the youngest crypto billionaire after the price of Ethereum surpassed $3,000 in 2021.
*Not investment advice.