Ethereum co-founder Vitalik Buterin says he’s no longer a billionaire

[ad_1]

Changpeng Zhao, founder of the crypto exchange Binance, has seen more than $US80 billion – or 84 per cent of his wealth – evaporate this year, according to the Bloomberg Billionaires Index.

Some ultra-wealthy crypto backers have professed humility amid the upheaval. Michael Novogratz, founder of crypto merchant bank Galaxy, acknowledged that TerraUSD was “a big idea that failed”. Others, including the Winklevoss twins, have insisted their investments are long term.

“It’s all about perspective and HODLing for the long game,” Cameron Winklevoss tweeted on May 12, using an acronym for “hold on for dear life”.

As the pandemic raged through India last year, Mr Buterin donated more than 50 trillion shiba inu coins to a COVID-19 relief fund in that country. The coins, which are a meta joke about the dog-themed digital coin dogecoin, would have been worth more than $US1 billion at the time.

Mr Buterin’s donation represented more than 5 per cent of the total shiba inu coins in circulation and sent prices tumbling about 50 per cent.

In a separate tweet on Friday, Mr Buterin talked about the trade-offs between “open-mindedness” and “passion”, while expressing support for the blockchain he helped create.

“Note to trolls: no, ethereum was not a mistake,” he wrote.

Bloomberg

[ad_2]