Bitcoin price crash triggers reshuffling of the rich list: Coinbase (COIN.US) CEO drops out of top 500, many bigwigs in the cryptocurrency circle see their wealth plummet.

As cryptocurrency prices continue to fall, Coinbase Global (COIN.US) CEO Brian Armstrong has dropped out of the Bloomberg Billionaires Index global top 500. Since July last year, his personal wealth has evaporated by more than half. According to the Bloomberg Billionaires Index, Armstrong's wealth has shrunk by over $100 billion since reaching a peak of $17.7 billion seven months ago. The trigger for the latest round of wealth decline was Morgan Stanley's downgrade of Coinbase's target stock price by 27% on Tuesday, citing reasons such as "weak cryptocurrency prices," declining trading volume, and slowing stablecoin growth. The roller-coaster-like movement of Coinbase's stock price mirrors the volatility of Bitcoin. Since hitting a high point on July 18 last year, the stock price of this cryptocurrency exchange platform has dropped by about 60%, with a single-day decrease of 2.8% this Tuesday. The price of Bitcoin has also halved since early October. At 43 years old, Armstrong currently has a net worth of approximately $7.5 billion, with the majority coming from his 14% stake in Coinbase. The company was co-founded by him and Fred Ehrsam in New York in 2012. The wealth index shows that he regularly sells off company stocks and also holds partial ownership of the biotech startup NewLimit - a company focused on anti-aging research that he co-founded and personally funded. As cryptocurrency prices plummet, many billionaires in the cryptocurrency sector have also dropped out of the Bloomberg Global Billionaires Index top 500. According to the index, the personal net worth of brothers Cameron Winklevoss and Tyler Winklevoss has plummeted from $8.2 billion in October last year to $1.9 billion. Their company Gemini Space Station (GEMI.US) announced last week that they will lay off around 25% of their workforce and gradually reduce some international business. The plunge in Bitcoin prices has also led to a reduction of donations to a new political fundraising organization by millions of dollars. Galaxy Digital (GLXY.US) founder and CEO Michael Novogratz's wealth has also dropped from a high of $10.3 billion in October last year to $6.2 billion. As the co-founder and CEO of this New York cryptocurrency company, he holds approximately 51% of the company's shares. In the fourth quarter's cryptocurrency crash, Galaxy Digital reported a loss of over $500 million, far exceeding market expectations. Novogratz admitted in an interview, "Pain is already part of the core of the industry." In addition, Strategy (MSTR.US) founder Michael Saylor's wealth has evaporated by about two-thirds since reaching a high point in July 2025, with a current net worth of $3.4 billion. His wealth mainly comes from his 8% stake in Strategy, which is one of the world's largest publicly traded Bitcoin holding institutions.