Coinbase CEO fortune falls by more than half as Bitcoin slumps
Coinbase Chief Executive Officer Brian Armstrong has dropped out of the list of the world’s 500 richest people following a sharp downturn in the crypto market. His net worth has declined by more than $10 billion from its peak seven months ago.
According to the Bloomberg Billionaires Index, Armstrong’s wealth fell from $17.7 billion to about $7.5 billion. The latest blow to the company’s valuation came after JPMorgan cut its price target on Coinbase shares by 27%, citing weakness in crypto asset prices, lower trading volumes and slower growth in the stablecoin segment.
Coinbase shares have lost about 60% from their July 2025 high. The stock’s trajectory has closely mirrored Bitcoin’s volatility, with the cryptocurrency down roughly 50% since October.
The bulk of Armstrong’s wealth is tied to his 14% stake in Coinbase. The 43-year-old entrepreneur also holds a stake in NewLimit, a biotechnology startup focused on longevity research.
Crypto billionaires under pressure
The price slump has also affected other industry figures. Cameron and Tyler Winklevoss each saw their net worth fall to about $1.9 billion from $8.2 billion in October. Their company, Gemini, recently announced plans to cut roughly 25% of its workforce and scale back parts of its international operations.Galaxy Digital’s Michael Novogratz saw his fortune decline from $10.3 billion to $6.2 billion as the firm posted a roughly $500 million loss in the fourth quarter amid the crypto market downturn.
Michael Saylor, whose company Strategy is among the largest public holders of Bitcoin, has also lost about two-thirds of his fortune since its 2025 peak. His net worth is now estimated at approximately $3.4 billion.
What is driving Coinbase’s decline
Coinbase’s recent drop reflects technical weakness in the stock. Shares are trading well below key moving averages — the 20-day, 50-day and 200-day — signaling a sustained bearish trend across short-, medium- and long-term timeframes. Momentum indicators likewise point to continued selling pressure.At the same time, fundamentals present a more mixed picture. Coinbase reported $1.87 billion in quarterly revenue, marking both sequential and year-over-year growth, and recently resolved a long-standing banking dispute, removing a legal overhang. Some investors view the pullback as a technical reaction to broader market weakness, while others warn of further downside risk in the absence of a new growth catalyst.
Previously, we reported that Bitcoin’s sharp decline in early 2026 reflects a structural shift in market dynamics rather than a single shock, according to Galaxy Digital CEO Michael Novogratz.
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