Three Crypto Billionaires Withdrawn From the Forbes 400 List

Ongoing crypto winter which has been for a couple of months now has eventually eliminated three crypto billionaires from the Forbes 400 2022 list for Americans. The three affected crypto billionaires are Coinbase co-founder Fred Ehrsam, Geminin founders, the Winklevoss twins, and Stellar Chief Technology Officer Jed McCaleb.

The other four who still got a ranking on the list had reduced net worth when compared to what it previously was.  This further shows that not many players survived the crypto winter which removed more than $2 trillion from the crypto ecosystem.

Although it would not be out of place to mention that the fall of these billionaires had started earlier when the price of Bitcoin (BTC) began to drop in January 2022 to around $35,000 from $68,000 which it reached in November 2021. Presently, the digital currency is still fluctuating below $20,000.

Four Crypto Billionaires on Forbes 400 List

It was discovered that collectively, top players in the crypto industry recorded a loss of up to $27.8 billion amidst the crypto winter. As for those crypto billionaires who made it to the Forbes 400 list of the richest people in the U.S, cumulatively, they have a net worth of $27.3 billion.

FTX Sam Bankman-Fried was the first crypto billionaire on the list, ranking as the 41st richest person in America. According to the Forbes list, SBF has a net worth of $17.2 billion making him the richest crypto player in the industry. His present net worth is down by almost 24% of his previous net worth.

Next on the ‘crypto side’ of the Forbes 400 list, ranking 227th is Gary Wang, the co-founder of FTX. He has a current net worth of $4.6 billion. Following at a close range is Ripple Labs co-founder, Chris Larsen. He ranked 380 on the list with a net worth of $2.8 billion down by more than 50% from the previous year’s worth. 

Finally, the Chief Executive Officer of Coinbase Brian Armstrong made it to the Forbes 400 list as the 388th richest man in America and the 4th richest crypto billionaire with a net worth of $2.7 billion.