Coinbase CEO Brian Armstrong has been removed from the list of the world's 500 wealthiest individuals, according to the Bloomberg Billionaires Index. His net worth has plunged by more than $10 billion from its peak of $17.7 billion just seven months ago, now standing at approximately $7.5 billion.
The latest significant blow to Armstrong's fortune came from a major financial institution. JPMorgan Chase & Co. recently slashed its price target for Coinbase by 27%, contributing to increased volatility in the company's stock. Coinbase shares have mirrored the broader cryptocurrency sector's decline.
Armstrong is not alone in this billionaire wipeout. The fortunes of other prominent crypto figures have also contracted sharply amid the market downturn. Cameron and Tyler Winklevoss have seen their respective net worths shrink to $1.9 billion each. Galaxy Digital CEO Mike Novogratz's fortune slid to $6.2 billion from a high of $10.3 billion. MicroStrategy founder Michael Saylor has lost about two-thirds of his wealth since July 2025, with his net worth now at $3.4 billion.
In contrast, Binance founder Changpeng Zhao remains a notable exception, ranked 36th with a total net worth of $52.2 billion. His wealth is reported to be almost entirely tied to the valuation of the Binance platform and his personal holdings of digital assets.
