Crypto’s richest personalities suffered major losses in recent weeks. 

May 14, 2022

According to the Forbes report, the eleven richest personalities in the crypto industry have collectively lost nearly $60 billion in recent weeks. 

The recent collapse in the crypto market has wiped out over $400 billion. 

In March, Forbes calculated Binance CEO’s net worth to be around $65 billion, now it is down to $17.5 billion. 

Coinbase founders Brian Armstrong and Fred Ehrsam lost nearly half of their fortunes in the recent crypto market crash.

Coinbase CEO Armstrong is down from $6.6 billion in March to $2.8 billion now. Ehrsam lost his position among billionaires, his net worth is estimated to be $986 million. 

Ripple founders Jed McCaleb and Chris Larsen lost $300 million and $1.1 billion, respectively.

Though crypto billionaires suffered significant losses, it was small investors who lost everything in this market collapse.