Crypto Winter Claims Three More Victims On Forbes 400 List Of Richest Americans | Crypto

Crypto Winter Claims Three More Victims On Forbes 400 List Of Richest Americans

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– The U.S. crypto moguls who made this years Forbes 400 list have lost billions of dollars over the last year as Bitcoin plummeted from over $50,000 to under $20,000, shares of exchange Coinbase plunged more than 75% and the total market value of all cryptocurrencies halved, from about $2.2 trillion to under $1 trillion, according to data from CoinMarketCap.

– Last fall, a record seven crypto billionaires made The Forbes 400 list of the richest people in the U.S. This year, only four remain. The quartet are worth a collective $27.3 billion. Last years seven were worth $55.1 billion.

– Americas wealthiest crypto tycoons have lost billions of dollars over the last year as Bitcoin plummeted from over $50,000 to under $20,000, shares of exchange Coinbase plunged more than 75% and the total market value of all cryptocurrencies halved, from about $2.2 trillion to under $1 trillion, according to data from CoinMarketCap.

– Sam Bankman-Fried, the wealthiest person in crypto, has used the slump to make acquisitions, including an option to acquire crypto lender BlockFi for up to $240 million.

– Brian Armstrong, the CEO of Coinbase, has not sold a single share of Coinbasewhich he took public on the Nasdaq stock exchange in April 2021even as the stocks cratered 76% since last years list.

– The Winklevoss twins, who famously sued Mark Zuckerberg and plowed their settlement money into Bitcoin, are now worth an estimated $2.2 billion apiece as the value of their believed crypto holdings mostly Bitcoin, Ether and Filecoin has plunged.

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