Brian Armstrong, the CEO and co-founder of the largest cryptocurrency exchange in the U.S., Coinbase (NASDAQ:COIN), has dropped out of the Bloomberg Billionaires Index, which ranks the world’s 500 wealthiest individuals.

Armstrong’s departure from the list of the world’s 500 wealthiest coincides with a steep crypto market decline, as Bitcoin drops below $70,000 for the first time since late 2024. His fortune remains heavily linked to his roughly 14% stake in Coinbase.

Per the Bloomberg index, Armstrong’s net worth is currently estimated at $7.5 billion, a drastic fall from the $17.7 billion recorded last summer.

Over the past month, Coinbase stock suffered a decline on 33.12% amid…

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