Bitcoin crash wiped $22B from crypto billionaires — here’s who lost the most

Downward arrow surrounded by money representing dip in Bitcoin and Ethereum that wiped millions from crypto billionaires.

Ethereum co-founder Vitalik Buterin’s spot in the three comma club lasted barely two weeks after a Bitcoin correction slashed net worths of crypto billionaires.

Buterin first became a crypto billionaire on May 3, when ETH peaked just shy of $3,300 about two and a half weeks ago.

But this lofty status was cruelly snatched away by crypto’s current slump, which began on May 10.

In the nine days that followed, 12 of the wealthiest names in crypto shed $15.5 billion from their portfolios, noted Forbes. They lost another $8 billion overnight.

  • FTX founder Sam Bankman-Fried was hardest hit in raw dollars, losing $5.2 billion ($16.7 billion to $11.5 billion).
  • MicroStrategy chief Michael Saylor shed the most percentage-wise, down 45% ($3.3 billion to $1.8 billion).
  • Bloq chairman Matt Roznak saw 40% drain from his net worth, reportedly mostly BTC ($2.8 billion to $1.7 billion).

Net worths of Coinbase’s Brian Armstrong and Fred Ehrsam bounced after Wednesday’s crypto carnage, respectively up $400 million and $100 million at Forbes’ latest calculations.

Yacht-loving Saylor, tie-wearing Tim Draper, and dogcoin-dumping Buterin also recovered portions of their losses. The other crypto billionaires saw millions continue to drain away on Thursday.

Crypto billionaires still richer than March

It’s worth remembering that most on the list are far richer than just a few months ago.

These dozen crypto figures were collectively worth $38.45 billion when Forbes compiled its 2021 Billionaires List in early March.

On May 20, crypto’s billionaire dozen are valued at $41.3 billion — a 7% rise since March 5.

[Read more: Major cryptocurrency exchanges rocked by $250B market dump]

Armstrong is leading the charge for raw dollars added. Coinbase’s bald-king is up $2.2 billion in the past two and a half months.

Prefer to listen to your news? The Protos Podcast delivers the week’s top stories every Friday.

Join our newsletter and get crypto news in your inbox

Newsletter

© 2021 Protos