12 Crypto Millionaires Lose Over $ 15 Billion Dragged By Market Fury! - Kakiforex.com - Financial Market Media No. 1 in the World 12 Crypto Millionaires Lose Over $ 15 Billion Dragged By Market Fury! 12 Crypto Millionaires Lose Over $ 15 Billion Dragged By Market Fury!
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May 24, 2021

12 Crypto Millionaires Lose Over $ 15 Billion Dragged By Market Fury!

 In just 9 days, a total of 12 investors who are also crypto millionaires incurred losses of around $ 15.5 billion, witnessing a sharp decline in the cumulative value of their assets from $ 62.3 billion to $ 46.8 billion!


The nightmare was none other than due to the crypto market deteriorating since May 10, driven by the decline in Bitcoin (BTC) prices of up to 36% during the period.


The BTC price dropped sharply from the $ 59,000 level on May 10 to the lowest level since last January, $ 30,846 on May 19.


According to Forbes, crypto investor and founder of crypto investment firm, Alameda Research, Sam Bankman-Fried, is the biggest loser based on the value of the dollar. It is said that on May 10 when Bitcoin hit a peak price, Fried owned assets worth $ 16.7 billion before turning to $ 11.5 billion on May 19.


This brings Fried's losses to $ 5.2 billion! Mindblown!



Ethereum founder Vitalik Buterin has also lost the nickname ‘youngest crypto millionaire’ when his total assets fell to a record $ 850 million from $ 1.4 billion.


The rest include:


Coinbase Global CEO Brian Armstrong: $ 1.5 billion loss

Ripple co -founder Chris Larsen: $ 1.3 billion loss

Stellar co -founder Jed McCaleb: $ 1.6 billion loss

Tyler and Cameron Winklevoss: $ 1.1 billion loss

Coinbase co -founder Fred Ehrsam: $ 0.5 billion loss

Microstrategy CEO, Michael Saylor: $ 1.5 billion loss

Bloc chairman Matthew Roszak: $ 1.1 billion loss

Digital Currency Group (DCG) CEO, Barry Silbert: $ 0.3 billion loss

Binance CEO, Changpeng Zhao: no losses were recorded

Tim Draper: $ 0.7% loss

The uncertain direction in the crypto market in recent times has prompted most institutional investors to turn to gold. Most recently, the Securities and Exchange Commission (SEC) and the United States Treasury (US) are said to be increasingly assertive against the crypto sector with the introduction of several recent laws.


At the time of writing, Bitcoin is holding at $ 40,279 with an increase of almost 1% in 24 hours. The crypto king now has a dominance of the crypto market at 43%.