Reports suggest that the combined losses of affluent digital currency promoters totaled $110 billion.
Highlights
- The combined wealth of the world’s richest crypto holders was around $140 billion in 2022, but a year of fraud allegations, government lawsuits, and investigations, pushed their collective worth to less than $30 billion as of March 10, 2023.
- The steep decline in fortunes also set the number of crypto billionaires dropping from an all-time high of 19 recorded last year to only nine last month.
- Co-founder and chief executive of world’s largest cryptocurrency trading platform Binance, Changpeng Zhao, retained the title of the number one crypto billionaire.
- His fortune reportedly amounted to $10.5 billion, down from $65 billion.
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US Dollar Could Lose Most of Its Value in 5 Years, Investment Manager Warns