Binance's CZ has seen the biggest decline in personal wealth, but SBF and Barry Silbert are reportedly broke.
Binance’s CZ has seen the biggest decline in personal wealth, but SBF and Barry Silbert are reportedly broke.
Apart from the obvious – the massive price declines of cryptocurrency assets, Forbes estimated that several industry participants have lost their billionaire status, while others’ fortunes were wiped out to $0.The macroeconomic factors have not been kind to the industry, with the massive global inflation running rampant, increasing interest rates, warnings of recessions, and an ongoing war in the middle of Europe, which started in February and is yet to see a conclusion.
While the debacle of two former top 10 cryptocurrencies is bad enough on its own, it turned out that the industry is quite intertwined. Consequently, many hedge funds and investors began to struggle, leading to multiple bankruptcy filings from the likes of Three Arrows Capital, Voyager, and others.Fast-forward a few months to October, and the situation was finally starting to normalize as investors began to get used to the idea of an extended crypto winter.
Some of the names are quite expected, given the fact that SBF claimed he had only $100,000 left in his banking account after FTX filed for bankruptcy. Bankman-Fried’s fortune was once estimated to be over $20 billion – in fact, that was less than a year ago.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SBF sent home and Binance gets Voyager assets: Hodler’s DigestSBF was sent home after his parents put up their house to cover his astronomical bail bond. Missed it? Catch up on what else you might have missed last week with our Hodler’s digest.
Read more »
Binance Pay Partners With Pyypl To Bring Users a More Secure Online Transaction Experience | Binance BlogBinance Pay partners with FinTech firm Pyypl! From this partnership, Binance users can top up their digital wallets using crypto. Find out more ➡️
Read more »
SBF stays at parents’ house on a $250 million bail: Law Decoded, Dec. 19-26While former FTX CEO was released on bail, former Alameda CEO signed a plea to collaborate with the prosecution.
Read more »
The Most Dangerous People on the Internet in 2022From SBF to the GRU, these were the most disruptive forces of online chaos this year.
Read more »
NEBL & VIDT Available via Credit/Debit Card | Binance SupportFellow Binancians, Introducing new fiat-to-token listings on Binance via Buy Crypto with Credit/Debit Card . Users can now purchase NEBL and VIDT with major fiat currencies using credit/debit car...
Read more »
French investors sued Binance for over 2.4 million euros in lossesThe plaintiffs claim Binance violated French law by advertising and distributing crypto services before receiving registration.
Read more »