The billionaire CEOs of major crypto exchanges saw their personal fortunes diminish as Bitcoin (CRYPTO: BTC) and the wider crypto market extended losses this week.
What Happened: A report from Bloomberg on Wednesday details significant declines in worth for some of the biggest names in the crypto industry.
Coinbase Global Inc (NASDAQ: COIN) CEO Brian Armstrong’s personal net worth dropped from as much as $13.7 billion in November to under $2.2 billion this week, as per the Bloomberg Billionaires Index.
Coinbase is now trading 84% lower than its Nasdaq debut last year. The firm ended its first day of trading with an $85.7 billion valuation and the direct listing …
Full story available on Benzinga.com