Crypto billionaires’ vast fortunes are destroyed in weeks


Armstrong had a personal fortune of US$13.7bil (RM60.09bil) as recently as November and about US$8bil (RM35.09bil) at the end of March. That’s now just US$2.3bil (RM10.08bil), according to the Bloomberg Billionaires Index. — AFP

It’s been a long few weeks since the crypto crowd was partying in Miami.

Coinbase Global Inc founder Brian Armstrong had a personal fortune of US$13.7bil (RM60.09bil) as recently as November and about US$8bil (RM35.09bil) at the end of March. That’s now just US$2.3bil (RM10.08bil), according to the Bloomberg Billionaires Index, after a selloff in digital currencies from Bitcoin to Ether triggered a precipitous decline in the market value of Coinbase, the largest US cryptocurrency exchange.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

Nexi, Stripe, Adyen launch Apple's Tap to Pay service in Italy
Duke Energy signs agreements with Amazon, Google, Microsoft for clean energy supply
Russia's Putin gives Rostelecom approval to buy Nokia out of joint venture
Data centers could use 9% of US electricity by 2030, research institute says
OpenAI signs content deals with the Atlantic and Vox Media
Gemini customers get back over $2 billion in crypto from Genesis bankruptcy
Arm offers new designs, software for AI on smartphones
AWS, Orange to offer cloud computing in Morocco, Senegal
Car battery makers to fight EU cartel charges at hearing next week, sources say
BlackRock's ETF becomes largest bitcoin fund in world, Bloomberg News reports

Others Also Read