Crypto billionaires have lost 75% of their fortune in 2022

The capital of crypto billionaires for 12 months decreased by $ 110 billion. Review of Crypto Upvotes experts

The richest people in the cryptocurrency industry lost more than 75% of their capital in 2022. Forbes estimates that the combined fortune of crypto-billionaires has decreased by about $110 billion in 12 months.

Last year, the magazine counted 19 billionaires among cryptocurrency owners. At the same time, the total assets were estimated at about $140 billion. Lawsuits, bankruptcies and falling asset values during the “crypto winter” caused serious damage to the industry. Therefore, by March 10, 2023, the total capital of crypto billionaires decreased to $30 billion. And the title of a billionaire itself was retained by only nine people.

Rating of crypto billionaires

• The head of the largest cryptocurrency exchange Binance, Changpeng Zhao, still occupies the first place in the ranking. His fortune last year was estimated at $65 billion. But now it is only $10.5 billion.
• In second place is the co-founder of blockchain projects Stellar and Ripple. As well as the creator of one of the first crypto-exchanges MtGox Jed McCaleb with a capital of $2.4 billion ($2.5 billion a year earlier).
• The third place ($2.2 billion) is shared by Coinbase CEO Brian Armstrong and Ripple chairman Chris Larsen. The former’s fortune last year was estimated at $6.6 billion, the latter at $4.3 billion.
• Next up are the founders of Web3 infrastructure developer Alchemy, Nikhil Viswanathan and Joseph Lau. And they each have a fortune of $1.8 billion ($2.4 billion a year earlier).
• The seventh and eighth places are held by the founders of the Gemini exchange, brothers Cameron and Tyler Winklevoss. Each of them owns $1.2 billion. A year earlier, the state of each of them was $4 billion.
• The list of billionaires closes the cryptoinvestor Matthew Roszak with a capital of $1.1 billion. In March 2022, his fortune was estimated at $1.4 billion.

List of who is no longer a crypto billionaire

Out of the list of billionaires are Upbit exchange founder Son Chee Hyun, Paradigm and Coinbase co-founder Fred Ehrsam. As well as MicroStrategy founder Michael Saylor (now valued at $760 million), venture capital investor Tim Draper. Also out are Devin Finzer and Alex Atalla, who founded the NFT marketplace OpenSea. And Barry Silbert, head of Digital Currency Group (his fortune dropped from $3.2 billion to $320 million).

Our experts note that Sam Bankman-Fried and Gary Wang of FTX were the hardest hit. Bankman-Fried last year ranked second with a capital of $ 24 billion. And now his fortune Forbes estimates less than $ 10 million. Experts estimate the state Wang the same amount, a year earlier it was $ 5.9 billion.