TechFlow news, according to Bloomberg, the net worth of Binance CEO Zhao Changpeng has dropped by $1.4 billion over the past two days to $26 billion, while Coinbase CEO Brian Armstrong's net worth declined by $361 million to $2.2 billion, based on the Bloomberg Billionaires Index. This follows the U.S. Securities and Exchange Commission (SEC) suing both companies for alleged violations of securities regulations, triggering sharp declines in shares and tokens of several crypto-related firms.
Prior to this week's decline, Zhao's net worth had surged 117% this year, and Armstrong's rose 61%. In contrast, the combined net worth of other billionaires on the Bloomberg wealth index increased by just 9%.
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