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Richest Crypto Billionaires Have Lost Nearly $50 Billion

The cumulative fortune of the 11 richest billionaires who made their fortune in cryptocurrencies decreased by $49.06 billion in two months o...

The cumulative fortune of the 11 richest billionaires who made their fortune in cryptocurrencies decreased by $49.06 billion in two months of the collapse of the crypto market, follows from the calculations of the American Forbes. 

Since the beginning of April, the price of bitcoin has fallen by 35%, dropping below $27,000 for the first time since December 2020.

The richest crypto businessman in the world, the founder of the Binance exchange, Changpeng Zhao, lost $37.6 billion from March 11 to May 11, his fortune now stands at $27.4 billion. In second place in the ranking is the co-founder of the FTX crypto exchange Sam Bankman-Fried, whose fortune has decreased by $3 billion in two months and is now estimated at $21 billion.

Coinbase co-founder and CEO Brian Armstrong, who lost $4.4 billion during this period (now his fortune is estimated at $2.2 billion), is in third place in the ranking. Coinbase co-founder Fred Ehrsam (who left the company in 2017 but still owns 6% of its shares) lost $1.3 billion (currently worth $0.85 billion), Forbes writes. He was in eighth place on the list.

Also, the fortune of the co-founder and CEO of the blockchain company Ripple, Chris Larsen, has also noticeably decreased. In two months, it decreased by $0.7 billion. American crypto billionaire Jed McCaleb, the co-founder of Ripple, who left the company in 2013, and the founders of the Gemini crypto exchange, the twin brothers Cameron and Tyler Winklevoss, lost $0.3 billion each.

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