I saw a message last night that made my heart skip a beat. Coinbase CEO Brian Armstrong has fallen out of the list of the world's 500 richest people. At his peak, his net worth was around 17 billion US dollars, but now it's only around 7.5 billion. To be honest, 7.5 billion sounds like an astronomical figure, but compared to the halo of being a "crypto upstart" before, the difference is really huge. The key issue is the drastic drop in stock price. COIN has plummeted by more than 60% from its high of $419 in July. Adding to the chain reaction in October, even Bitcoin was halved in value. Sometimes I really feel that the crypto is too cruel. A bull market can make you a legend, a bear market can wipe you out completely. Just a few months ago, people were saying that "the crypto industry has become mainstream," but now even the rich list is starting to be reshuffled. To be honest, just looking at those few candlestick charts in my own account makes my scalp tingle. While others fell out of the top 500, I fell directly out of the top 100 in sleep quality.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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