Seven of the world’s richest crypto founders have lost a combined $114 billion since November as digital-asset values crumble.
One built a massive fortune that rivaled the wealthiest US tech titans. Another amassed a war chest that he vowed would change politics and philanthropy. Some were given a second chance at riches after past ventures flamed out.
The cryptocurrency craze turned Changpeng Zhao, Sam Bankman-Fried, Mike Novogratz and a handful of other digital-asset evangelists into billionaires several times over. But just as quickly as they became the new faces of global wealth, they’re now seeing their fortunes vanish at an astonishing rate.
Worth as much as $145 billion on Nov. 9, when Bitcoin reached a record high of almost $69,000, seven billionaires with fortunes tied to crypto have since lost a combined $114 billion, according to the Bloomberg Billionaires Index. Many others who have bet big on Bitcoin, from Microstrategy Inc. Chief Executive Officer Michael Saylor to El...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...