Several of the wealthiest crypto founders have lost billions of dollars in net worth to the 2022 bear market
The number of crypto billionaires on The Forbes 400 rich list dropped from seven in 2021 to four this year
Their combined wealth fell similarly, from $55.1 billion to $27.3 billion, it says
Crypto billionaires are becoming a rare breed. When Vitalik Buterin revealed he was no longer a billionaire in May, the Ethereum cofounder spoke for many of the ultra-rich in cryptocurrency. A number of the wealthiest founders have lost billions of dollars in net worth to the 2022 bear market, or “crypto winter”.
According to Forbes, the number of crypto billionaires on The Forbes 400 list of the richest people in the U.S. dropped from seven in 2021 to four this year. Their combined wealth fell similarly, from $55.1 billion to $27.3 billion, it says.
It comes as cryptocurrency holdings have been hit hard by a sharp decline in prices following the collapse of the Terra blockchain in May....
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