TechFlow News, February 11: According to Bloomberg, Coinbase CEO Brian Armstrong has dropped off the Bloomberg Billionaires Index’s global top 500 list, as his personal wealth—peaking at $17.7 billion in July last year—has shrunk by over $10 billion amid a sustained decline in cryptocurrency prices. Recently, JPMorgan slashed Coinbase’s target price by 27%, citing weak cryptocurrency prices, declining trading volumes, and sluggish stablecoin growth—further eroding Armstrong’s wealth valuation.
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