A crypto storm shakes up the global rich list, turning the rankings upside down!

(Washington, 11th) As crypto prices keep sliding, Coinbase CEO Brian Armstrong has fallen out of the top 500 on the Bloomberg Billionaires Index. More than half of his wealth has been wiped out since last July.

Bloomberg’s index shows his fortune peaked around $17.7 billion about seven months ago and has since dropped by over $10 billion. The latest leg down followed JPMorgan’s Tuesday (10th) move to cut Coinbase’s price target by 27%, citing weak crypto prices, lower trading volumes, and slower stablecoin growth.

Coinbase shares have tracked bitcoin’s volatility closely. Since a July 18 peak, Coinbase stock is down about 60% (including a 2.8% drop on Tuesday), while bitcoin has also fallen sharply since early October. The 43-year-old is now estimated to be worth about $7.5 billion, largely tied to his roughly 14% stake in Coinbase, plus additional holdings such as a stake in anti-aging biotech startup NewLimit.

Other crypto billionaires have also slid down the rankings: the Winklevoss twins’ net worth reportedly plunged from about $8.2 billion (Oct) to about $1.9 billion, alongside layoffs and a pullback in some international operations. Galaxy Digital’s Michael Novogratz fell from about $10.3 billion to about $6.2 billion after the firm reported losses exceeding $500 million. Strategy founder Michael Saylor is also down sharply from his 2025 peak, now around $3.4 billion.