Billionaires who lost the most money due to crypto crash 2022 | Statista (2024)

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Billionaires who lost the most money due to crypto crash 2022 | Statista? ›

Billionaires with largest net worth drop due to global crypto crash in 2022. Binance founder and CEO Changpeng Zhao (commonly known as CZ) was the crypto billionaire who lost the most money following the crypto crisis of 2022, with a net worth drop amounting to 82 billion U.S. dollars.

Tom Brady is the most famous face to promote and invest in FTX — and he also may have suffered the greatest individual loss. The Tampa Bay Buccaneers quarterback owned over 1.1 million common shares of FTX Trading, which equaled about $45 million before the company went bankrupt, according to Bloomberg.

Sam Bankman-Fried sentenced to 25 years in prison for his role in collapse of FTX crypto exchange. Former cryptocurrency billionaire Sam Bankman-Fried was sentenced Thursday to 25 years behind bars for his role in perpetrating one of the largest financial crimes in U.S. history.

Total Crypto Millionaires: Recent data indicates there are approximately 88,200 individuals worldwide who have achieved millionaire status through their investments in cryptocurrencies.

Michael Saylor, CEO of MicroStrategy, a software firm that has made heavy investments in bitcoin, is now worth an estimated $4.4 billion, compared to $760 million last year. Brian Armstrong, CEO of crypto exchange Coinbase, is worth an estimated $11.2 billion, up from just $2.2 billion last year.

Star NFL quarterback Tom Brady, who received a multimillion-dollar deal to be the leading FTX brand ambassador, was estimated to lose $30 million in the aftermath of the collapse. Companies and venture capital firms also saw their money vanish.

There's still around $1 billion of missing customer money that isn't accounted for, and which could have been used by FTX to fund bad trades at its affiliate hedge fund, Alameda.

Sam Bankman-Fried, the disgraced cryptocurrency mogul who perpetrated one of the largest financial frauds in history, has been sentenced to 25 years in prison and ordered to forfeit $11bn in assets.

Bankman-Fried, 32, sentenced for fraud on customers of the FTX cryptocurrency exchange he founded. Former crypto tycoon Sam Bankman-Fried has been sentenced to 25 years in United States federal prison for stealing $8bn from customers of the now-bankrupt FTX cryptocurrency exchange he founded.

Binance founder and CEO Changpeng Zhao (commonly known as CZ) was the crypto billionaire who lost the most money following the crypto crisis of 2022, with a net worth drop amounting to 82 billion U.S. dollars.

Who is the richest person in crypto? ›

Binance's Changpeng Zhao Clings To Multibillion-Dollar Fortune After Guilty Plea. Changpeng Zhao became crypto's richest person while evading sanctions laws. His pleading guilty to money laundering charges is unlikely to change that–at least for now.

The truth is that you can get rich by investing in crypto, but making money in crypto is the same as making money with any type of investment. To become rich, you have to do your research, work with a financial advisor, follow specific markets and make trades at the right time.

The crypto market offers an array of opportunities for financial growth, with widely known cryptos that have demonstrated substantial gains in the past. However, the best crypto that will make you rich needs to be researched strategically and thoroughly in order to avoid the risks and potential loss.

There are 16 cryptocurrency billionaires in Forbes' ranking of billionaires. Sam Bankman-Fried is still on the list as the seventeenth, but Forbes lists the ex-CEO of FTX with no wealth. 4 There are likely many more billionaires who own crypto, but most do not publicize their holdings.

So, 10 times from those levels would mean that Bitcoin could go as high as $350,000, Saylor said. If this is the case, you would need to own 2.86 BTC to become a millionaire. It would cost around $190,000 today.

The current price of Bitcoin is $62,702.57 per BTC.

Major FTX shareholders included Dan Loeb's Third Point, Paradigm, Sequoia Capital, Thoma Bravo, Softbank, New Enterprise Associates (NEA), Temasek, Tiger Global Management and Coinbase, a crypto exchange competitor to FTX.

For FTX customers, being made whole, according to a judge's ruling, means getting the cash equivalent of what their crypto was worth in November 2022. In other words, they're not seeing any of the upside of FTX's investments or being given virtual coins that would allow them to cash out at higher valuations.

The testimony backed up prosecutors' allegations that Bankman-Fried funneled money from customers at his FTX crypto exchange into Alameda, an affiliated hedge fund, for investments, political donations and expensive property before both companies collapsed.