Coinbase CEO Brian Armstrong has been knocked out of the ranks of the world’s 500 wealthiest people.
According to the Bloomberg Billionaires Index, Armstrong’s net worth has plummeted by over $10 billion from its peak of $17.7 billion just seven months ago.
The 43-year-old executive’s fortune now stands at approximately $7.5 billion.
The latest blow to Armstrong’s fortune was delivered by JPMorgan Chase & Co. Recently, the banking behemoth slashed its price target for Coinbase by 27%.
Coinbase shares have mirrored the broader sector’s decline. The aforementioned downgrade has further contributed to volatility.
A billionaire wipeout
Obviously, Armstrong is not the only crypto billionaire hit by the market downturn. Cameron and Tyler Winklevoss have seen their respective net worths shrink to $1.9 billion each.
The fortune of Galaxy CEO Mike Novogratz slid to $6.2 billion from a high of $10.3 billion.
Strategy founder Michael Saylor has lost about two-thirds of his wealth since July 2025. His net worth now stands at $3.4 billion.
Binance founder Changpeng Zhao is ranked 36th with a total net worth of $52.2 billion. His wealth is almost entirely tied to the valuation of the platform and his personal holdings of digital assets.