$116 Billion Less: Crypto Investors and Execs Experience Harsh Winter (Report)
Dec 26, 2022
By Jordan Lyanchev
Binance’s CZ has seen the biggest decline in personal wealth, but SBF and Barry Silbert are reportedly broke.
2022 will go down in history as one of the most atrocious and shocking for the cryptocurrency industry, which saw several major implosions, countless bankruptcies, fallouts, and everything in between.
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.
From Terra to FTX – Crypto Debacles
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.
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