Crypto billionaires are among biggest losers of 2025: Report

While Circle CEO Jeremy Allaire increased his net worth by a reported 149%, others like Changpeng Zhao and the Winklevosses saw declines.

Strategy executive chairman Michael Saylor and other prominent cryptocurrency executives lost billions of dollars in 2025, partially as a result of losses in an October flash crash. 

According to the Bloomberg Billionaires Index released on Wednesday, Saylor lost $2.6 billion over the previous 12 months, reducing his net worth to $3.8 billion. Gemini co-founders Cameron and Tyler Winklevoss and former Binance CEO Changpeng “CZ” Zhao also saw significant losses due to a “massive slide” in the crypto market in October. 

“[Strategy’s Bitcoin treasury strategy] generated huge returns through early October, when Bitcoin hit fresh highs,” Bloomberg. “However, things began to turn south soon after as a slump in Bitcoin’s value sent Strategy’s stock price plunging by more than half, dragging Saylor’s net worth down nearly $6 billion from its high-water mark in the process.”

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