Crypto mega-billionaire Sam Bankman-Fried has seen his net worth cut in half amid the crypto crash. Here’s how much several other heavyweights have lost.
- The crypto crash has slashed the net-worth of billionaires like
Sam Bankman-Fried, Mike Novogratz, and others.
- Coinbase's founder has seen his wealth drop from $13.7 billion to $2.2 billion, per Bloomberg data.
A broad crash across risk assets spread to cryptocurrencies this week, dragging down the net worth of industry titans as
FTX's Sam Bankman-Fried's fortune has been slashed in half since the end of March, according to data from Bloomberg's Billionaires Index. The crypto exchange CEO's fortune now sits at about $11.3 billion.
And then there are the Winklevoss twins, Tyler and Cameron, co-founders of crypto exchange Gemini, who have each lost roughly $2.2 billion in wealth — about 40%, per Bloomberg data.
The plunge has also slashed the value of Coinbase, the largest US crypto exchange.
Meanwhile, the net worth of prominent crypto bull Mike Novogratz, CEO of Galaxy Digital, has sunk from $8.5 billion to $2.5 billion, Bloomberg data shows. Novogratz has voiced support for TerraUSD, the stablecoin that's made headlines this week for its near-total collapse along with sister token Luna.
On Wednesday, bitcoin dropped below $25,500, its lowest since December 2020 and more than 60% below its high of $69,000 reached in 2021.
Bitcoin was trading around $28,320 at 9:50 a.m. ET. Ethereum moved below $2,000, hovering around $1,925.
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