The post Coinbase’s Armstrong has lost over $10 billion since July. appeared on BitcoinEthereumNews.com.

The recent crypto downturn has cost Coinbase CEO Brian Armstrong his place among the world’s 500 wealthiest. Since reaching $17.7 billion over seven months ago, the executive’s net worth has plunged by more than $10 billion, to $7.4 billion, according to Forbes.  The crypto slump battered his company as well, sending its shares down over 50% since Bitcoin’s October record above $126,000, with 27% of those losses coming in 2026 alone.  Adding to the pressure, JPMorgan on Tuesday slashed its Coinbase price target by 27%, over weakness in the crypto market and slower growth in stablecoin issuance. Ideally, the downgrade has done very little to ease the pressure on Armstrong or the company and only aggravated their more recent losses. Crypto billionaires have lost over $60 billion since October last year Forbes now ranks Armstrong at No. 520 following his recent losses, though he is far from the only crypto billionaire to be affected. The broader crypto downturn began with Bitcoin’s sharp reversal — what started as a record-breaking rally to $126,000 in early October turned into a pullback of over 40%, with around 20% of those losses coming in early February. In addition, the overall crypto market has shrunk by 40% since October, erasing roughly $2 trillion in value, according to CoinGecko.  Unfortunately, that crypto slump has decimated the fortunes of the industry’s richest, vaporizing $60 billion in wealth since October and stripping at least 10 moguls of over $1 billion each. The losses extend to Armstrong, whose shares are down 56% since the October peak, and Strategy’s executive chairman, Michael Saylor, whose company is now facing a 62% drop in market value.  Saylor’s net worth has dropped to $3.4 billion, a two-thirds reduction from its July 2025 peak. The hardest hit, however, is CZ, Binance’s founder, whose personal Bitcoin…

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Filed under: News - @ February 11, 2026 4:26 am