- Crypto’s billionaires are personally feeling the pinch.
- CZ is the biggest loser, with a billion+ down the drain.
- Coinbase has lost more than just a fortune for its CEO; investors are also down.
The sudden back-to-back lawsuits laid by the SEC against Binance and Coinbase have impacted the crypto market, causing huge volatility. However, big chunks of their fortune have been slashed for those at the forefront of the legal battle.
According to the Bloomberg Billionaires Index, Binance CEO Changpeng Zhao – CZ – has seen his wealth shed $1.4 billion to sit at a still handsome $26 billion. Meanwhile, Coinbase CEO Brian Armstrong’s net worth was also hit to the tune of $361 million, dropping his worth to $2.2 billion.
Fluctuating Fortunes
Unsurprisingly, the men at the helm of the companies being brought to justice by the SEC are suffering massive financial losses. The crypto market also saw a…
