Binance CEO Changpeng Zhao and Coinbase Chief Executive Brian Armstrong have lost money since the SEC filed lawsuits against both companies earlier this week.
FOX Business' Charlie Gasparino explains how the SEC views digital coins on 'The Claman Countdown.'
Binance CEO Changpeng Zhao and Coinbase CEO Brian Armstrong watched their fortunes shrink since the Securities and Exchange Commission filed lawsuits against the twoZhao’s wealth fell by $1.4 billion to $26 billion over the past two days, while Armstrong’s net worth slipped by $361 million to $2.2 billion, according to the Bloomberg Billionaires Index.
Despite the recent drops in net worth, Zhao and Armstrong’s fortunes have jumped $15.4 billion from Jan. 1, 2023, through Friday, as the value of digital assets regained earlier losses. Over that time, Zhao’s fortune jumped 117% before this week’s decline, while Armstrong’s rose 61%.Binance CEO Changpeng Zhao attends the Viva Technology conference at Porte de Versailles exhibition center in Paris June 16, 2022.
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