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Crypto Moguls’ Wealth Plummets by 75%, Reveals Forbes Report


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Forbes reports that the richest crypto entrepreneurs have lost $110 billion over the past year, which is three-quarters of their wealth.

The magazine pointed out that in April 2022, the list of billionaires who made their money using cryptocurrency and blockchain technology was replenished with 7 people, expanding it to 19, which is the largest number in history.

The magazine showed that the combined fortune of the businessmen on the list is about $140 billion, and after a series of fraud revelations, government lawsuits and asset depreciation, this has decreased to less than $30 billion as of March 10, 2023. ten people from the list became billionaires out of business.

The magazine added that over the past 12 months, the total crypto market capitalization of $700 billion has almost halved, the collapse of the hedge fund and problems with the exchange of cryptocurrencies have increased investor fears and hastened capital flight from the industry.


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