Following the recent market turmoil that plunged the prices of all cryptocurrencies, Vitalik Buterin, the co-founder of the second-largest cryptocurrency Ethereum (ETH), has revealed that he is no longer a billionaire.
Vitalik Buterin No Longer the World’s Youngest Crypto Billionaire
On May 20, Vitalik Buterin made a revelation on Twitter, saying: “I’m not a billionaire anymore.”
Buterin became the world’s youngest crypto billionaire last year when he had a crypto portfolio worth $1.5 billion in November 2021 with an estimated net worth of 355,000 ETH. Perhaps his portfolio took a massive plunge, as Ethereum (ETH) has lost over 50% value since then.
While Buterin has not made public his entire cryptocurrency portfolio, it is expected that the majority of his crypto holdings is in Ethereum.
Ethereum Too Suffered from Terra’s Aftermath
According to data from CoinCu , Ethereum (ETH), which was trading at around $2,700 on May 7, fell to a low of $1,824 a few days later following the collapse of Terra blockchain’s LUNA and UST.
At the time of writing, ETH is currently trading at around $1,969, down 59.5% from an all-time high of $4,878 recorded in November 2021.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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