The richest figures in cryptocurrency lost a combined $110 billion in the last year.
Forbes’ 2023 World’s Billionaires List found that the 19 crypto billionaires it identified a year ago – then worth a collective $140bn – are now worth less than $30bn, with 10 losing billionaire status.
The high-profile fall from grace of Sam Bankman-Fried, as his cryptocurrency exchange FTX collapsed from a $32 billion valuation to administration, has seen him drop from $24bn net worth to less than $10m.
He potentially faces life in prison on multiple charges including fraud.
Topping the list is Binance CEO Changpeng Zhao, who has lost an estimated $55bn in 12 months. However his $10.5bn fortune is more than four-times that of his nearest rival Jed McCaleb, co-founder of Ripple, who has now exited the XRP crypto company.
1. Changpeng Zhao, Binance
$10.5bn (2022: $65bn)
2. Jed McCaleb, ex-Ripple
$2.4bn (2022: $2.5bn)
3. Brian Armstrong, Coinbase
$2.2bn (2022: $6.6bn)
4. Chris Larsen, Ripple
$2.2bn (2022: $4.3bn)
5. Nikil Viswanathan and Joseph Lau, Alchemy
$1.8bn each (2022: $2.4bn each)
7. Cameron and Tyler Winklevoss, Gemini
$1.2bn each (2022: $4bn each)
9. Matthew Roszak, Bloq
$1.1bn (2022: $1.4bn)
10. Song Chi-hyung, Upbit
$950m (2022: $3.7bn)
11. Fred Ehrsam, Coinbase
$930m (2022: $2.1bn)
12. Michael Saylor, Microstrategy Solutions
$760m (2022: $1.6bn)
13. Tim Draper
$650m (2022: $1.2bn)
14. Devin Finzer and Alex Atallah, OpenSea
$600m (2022: $2.2bn)
16. Kim Hyoung-nyon, Upbit
$500m (2022: $1.9bn)
17. Barry Silbert, Digital Currency Group
$320m (2022: $3.2bn)