The richest cryptomillionaires in the world have ceased to be billionaires

Forbes: in three months, 11 of the richest cryptomillionaires in the world lost $61.4 billion. Three months of the collapse of the cryptocurrency market, 11 of the richest billionaires who acquired a fortune in digital currency lost $ 61.4 billion, the American Forbes estimated.

Four of them lost their status.

In June 2022, the line in the ranking of the richest cryptomillionaires in the world was headed by the co-founder of the FTX crypto exchange Sam Bankman-Fried, whose fortune has decreased by $ 4 billion (216 billion rubles) since March up to 20 (1.08 trillion rubles). He was ahead of the founder of the Binance exchange Changpeng Zhao, who lost 46.3 billion dollars (2.5 trillion rubles), now his fortune is estimated at 18.7 billion (1.009 trillion rubles).

Despite the fact that entrepreneurs lost huge sums during the collapse of the crypto market, some of them still believe in the future of cryptocurrency. Venture capitalist Tim Draper, who was in last place in the ranking of seven cryptomillionaires, still insists that bitcoin will reach a whopping 250 thousand dollars (13.5 million rubles) by the end of 2022 or by the beginning of 2023. In January 2022, bitcoin cost about 41 thousand dollars (2.2 million rubles), now it is almost 20 thousand (1.08 million rubles).

Fred Ersam, the former president of the Coinbase crypto exchange, explains the sharp drop in the market as nothing more than a growth disease. “One thing that most people don’t fully understand is that it takes years, and often decades, to move from a new technological breakthrough at the infrastructure level (for example, cryptography) to a dynamic ecosystem of core applications,” he noted.

The richest people in the world also suffered from the collapse of the market. Since the beginning of the year, Tesla and SpaceX owner Elon Musk, Amazon founder Jeff Bezos and Microsoft creator Bill Gates have lost $ 115 billion since the beginning of 2022 (as of June 24 — 6.2 trillion rubles). Billionaires occupy the first, second and fourth lines of the rating, respectively.

Russian billionaires did not stand aside either. The total wealth of Russia’s richest billionaires has fallen sharply since the beginning of 2022 — by June 1, entrepreneurs had lost a total of $ 41.48 billion (as of June 24 — 2.2 trillion rubles). The most affected were the co-owners of Novatek and Sibur, Gennady Timchenko and Leonid Mikhelson, whose fortune decreased by $7.06 and $6.65 billion, respectively.