Crypto Crash Knocks Coinbase CEO Out of Top 500 Richest

Brian Armstrong has fallen off the list of the world’s 500 richest people as digital asset prices continue to slide. The Coinbase co-founder saw his fortune shrink sharply over the past seven months. His net worth now stands near $7.5 billion after peaking at $17.7 billion in July. 

The decline reflects the broader crypto downturn, which has erased billions in market value across the sector. Moreover, falling trading volumes and weaker sentiment have intensified pressure on crypto-linked equities.

Coinbase Shares Mirror Bitcoin’s Slide

Armstrong’s wealth ties closely to his 14% stake in Coinbase Global Inc. Consequently, the company’s stock performance directly affects his net worth. According to Bloomberg report, shares have dropped about 60% since reaching a high on July 18. On Tuesday alone, the stock slipped another 2.8%.

Besides equity losses, analysts have lowered expectations for the firm. JPMorgan recently cut its price target for Coinbase by 27%. The bank cited softer crypto prices, weaker trading activity, and slower stablecoin growth. Hence, reduced market engagement has weighed heavily on revenue prospects.

Bitcoin has also fallen about 50% since early October. Prices have moved sharply throughout the month, creating volatility across crypto markets. Additionally, declining asset values have reduced investor appetite for speculative exposure.

Other Crypto Billionaires Face Similar Losses

Armstrong does not stand alone in this downturn. Cameron and Tyler Winklevoss have also seen steep declines in wealth. Each brother now holds about $1.9 billion, down from $8.2 billion in October.

Their company, Gemini, recently announced plans to cut roughly 25% of its workforce. Moreover, the firm has begun scaling back certain international operations. The slump in Bitcoin prices has also reduced the value of their political donations.

Michael Novogratz of Galaxy Digital has faced similar challenges. His net worth fell to $6.2 billion from $10.3 billion in October. Galaxy reported a loss of about $500 million during the fourth-quarter crypto crash. Significantly, the firm’s exposure to volatile assets amplified the impact.

Corporate Exposure Amplifies Volatility

Michael Saylor, whose company Strategy holds large Bitcoin reserves, has also seen losses. His fortune now stands at $3.4 billion after dropping sharply from its July 2025 high. The bulk of his wealth links to his 8% stake in Strategy.