Bitcoin Crash Wipes Out $1 Billion in Fortunes for Crypto Billionaires
ByAinvest
Saturday, Feb 7, 2026 1:43 pm ET1min read
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Bitcoin's 40% drop has wiped out over $1 billion in fortunes for at least 10 crypto billionaires. Binance founder Changpeng Zhao lost $29 billion, while Coinbase CEO Brian Armstrong's stake in the company lost nearly 60% of its value, shrinking his net worth by $7 billion. Other notable losses include Michael Saylor's $4.7 billion fortune and the $4.6 billion and $4.4 billion lost by Chris Larsen and Mike Novogratz, respectively. Investors are fleeing to safer assets like gold amid geopolitical uncertainty.
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