Bitcoin Plunge Sparks Despair as Armstrong Drops Out of World’s 500 Richest
Bitcoin Plunge Sparks Despair as Armstrong Drops Out of World’s 500 Richest
As the sharp plunge in Bitcoin (BTC) coincided with a steep سقوط in Coinbase’s stock price, Brian Armstrong, the head of the largest cryptocurrency exchange in the United States, saw billions of dollars wiped from his fortune and was removed from the list of the world’s 500 richest individuals in an unprecedented turn of events.
According to cryptocurrency-focused media outlet U.Today on Feb. 11 (local time), CEO Brian Armstrong was pushed out of the Bloomberg Billionaires Index top 500 ranking amid a severe downturn in the digital asset market. Armstrong’s net worth has fallen dramatically from $17.7 billion recorded in July last year to approximately $7.5 billion currently, shrinking to less than half. In just seven months, more than $10 billion of his wealth vanished alongside market volatility.
The sharp decline in Armstrong’s fortune stems from the plunge in the value of his Coinbase holdings. Coinbase shares have dropped nearly 60% from their peak in July 2025, while Bitcoin fell in tandem from $126,000 to the low $60,000 range. As the largest cryptocurrency exchange in the U.S., Coinbase relies heavily on transaction fee revenue, exposing structural limitations that worsen profitability during market stagnation and intensifying downward pressure on its stock.
Pessimistic forecasts from the financial sector have further pressured Armstrong’s net worth. Investment bank JP Morgan recently lowered its target price for Coinbase by 27%, citing declining trading volumes in the digital asset market and slowing growth in stablecoins. JP Morgan analyzed that as Bitcoin’s price continues to fall, Coinbase’s spot ETF fee revenue and transaction-based income are unlikely to recover in the near term.
The recent collapse in wealth has dealt a heavy blow not only to Armstrong but also to major figures across the digital asset industry. According to analysis by Santiment, cryptocurrency billionaires have collectively lost more than $60 billion in assets since October last year. MicroStrategy Chairman Michael Saylor’s net worth has shrunk to $3.4 billion, losing two-thirds of its peak value, while Binance founder Changpeng Zhao has reportedly seen $29 billion in wealth evaporate.
Despite the volatility in the digital asset market, Armstrong recently expressed long-term confidence at a public event, stating, “We will continue to launch new products and updates.” Coinbase is pushing to expand revenue from subscriptions and services to reduce its reliance on trading fees, but for now, earnings pressure from declining transaction volumes remains dominant. As broad price corrections continue across the cryptocurrency market, including Bitcoin, Armstrong’s personal wealth and Coinbase’s corporate value remain closely tied to market indicators.
Disclaimer: This article is for investment reference purposes only and we are not responsible for any investment losses resulting from it. The content should be interpreted solely for informational purposes.
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