Crypto billionaires lost $110 billion last year

There are now only 9 crypto billionaires with a total value of less than $30 billion, compared to 19 crypto billionaires worth $140 billion last year, according to Forbes’ 2023 World’s Billionaires List.

The top 3 crypto billionaires still include Binance CEO Changpeng Zhao. He is still the richest man in the industry, though his fortune has fallen to $10.5 billion from $65 billion a year ago.

Second place went to Ripple co-founder Jed McCaleb, whose net worth was $2.4 billion after selling his XRP, per the terms of a separation agreement with Ripple.

Rounding out the top 3 is Coinbase CEO Brian Armstrong, who is worth $2.2 billion, down from $6.6 billion last year.

The biggest crash of the year was that of Sam Bankman-Fried, whose $24 billion fortune plummeted to zero after the bankruptcy of his crypto exchange FTX and subsequent allegations. His trial is set to begin in October and he faces up to life in prison

Ethiopia urged its citizens not to involve in any cryptocurrency and banned all digital currencies. And also Ethiopia is developing a plan for how to regulate and legalizes digital currencies last year.


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