• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Crypto
Nexo

Crypto Disaster: Ethereum Co-Founder Vitalik Buterin Claims He’s Not A Billionaire Anymore

Jet Encila by Jet Encila
1 month ago
in Bitcoin, Crypto News, Ethereum
0
Advertisement

The recent crypto market crisis has not only hurt investors, but also notable entrepreneurs, erasing billions of dollars from their fortunes. Vitalik Buterin, co-founder of Ethereum, is one example.

In 2014, the 28-year-old founded Ethereum, a leading cryptocurrency by market capitalization.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Buterin revealed on social media on Friday that he is no longer a billionaire. After hitting a high of over $4,800 in November of last year, the digital currency has lost 60 percent of its value. ETH is currently trading at $1,972, as reported by Coinmarketcap.com.

What happened to "talking directly to the people" being a virtue?

(btw I particularly appreciate that Elon and Jeff actually respond to people, and don't just shout their own stuff)

— vitalik.eth (@VitalikButerin) May 20, 2022

Suggested Reading | Bitcoin Pizza Day: Celebrating The $300-Million Pizza Order – And Other Fun Facts

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

In response to a tweet about other billionaires — Elon Musk and Jeff Bezos, who are at the top of the list of the richest individuals — he admitted this.

In 2014, Vitalik and a number of other engineers, notably Charles Hoskinson (creator of Cardano) and Joseph Lubin, established the Ethereum platform. Vitalik possesses a digital wallet whose ETH contents were valued approximately $1.5 billion in November.

Youngest Crypto Billionaire

In 2021, as the price of Ethereum surpassed $3,000, Buterin became the youngest crypto billionaire.

However, this trend has since reversed, and ETH is currently straining against the tide. Despite this, it is the second-largest cryptocurrency in the world, with a market valuation of about $300 billion.

Friday in another tweet, Buterin stated:

Correcting a mistake in your beliefs requires accepting that a prior version of yourself brought detrimental value to the world (particularly if you are in politics, but also in some other sectors).

Due to a precipitous decline in digital currency prices and the turbulence surrounding the algorithmic stablecoin TerraUSD and its LUNA token, crypto holdings have taken a severe beating.

ETH total market cap at $238 billion on the weekend chart | Source: TradingView.com

Other Billionaires Suffer As Well

According to the Bloomberg Billionaires Index, Changpeng Zhao, founder of the cryptocurrency exchange Binance, has seen more than $80 billion, or 84% of his wealth, evaporate this year.

Similarly, Bitcoin plummeted to approximately $29,483 today (May 22), a decrease of 2.5 percent in the past week, falling alongside stocks due to fears of high inflation and rising interest rates.

Suggested Reading | A16z Rolls Out $600 Million Gaming, Web3 And Metaverse Dedicated Fund

The largest cryptocurrency in the world has lost around one-fifth of its value so far this month, as the stunning collapse of TerraUSD, a so-called stablecoin, has roiled crypto markets that were already plunging due to widespread selling of risky bets.

The Canadian programmer and author of Russian ancestry is an outspoken advocate of the blockchain and is pushing its transition to a proof-of-stake (PoS) architecture later this year.

Featured image from Coin News, chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jet Encila

Jet Encila

Freelance writing is Jet's other cup of tea. When not on his computer, he unwinds with a cold bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

Snoop Dogg NFT

Snoop Dogg Still Bullish On Ethereum Despite NFT Trades Declining 70%

7 hours ago
El Salvador

El Salvador, Unfazed By The Bear Market, Buys 80 Bitcoin – Will Others Do The Same?

17 hours ago
Cryptoqueen

‘Cryptoqueen’ Has A $100,000 Bounty On Her Head Offered By The FBI

19 hours ago
Bitcoin Trading Volume Sinks Down Almost 60% In 9 Days

Bitcoin Trading Volume Sinks Down Almost 60% In 9 Days

1 day ago
North Korean Hackers

North Korean Hackers Suspected Of Perpetrating $100 Million Harmony Attack

2 days ago
Oslo Freedom Forum, Fode Diop on stage

3 Lessons From The Oslo Freedom Forum: Why BTC? Nabourema, Likhachevskiy, Diop

2 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.