Bloomberg: Coinbase CEO's personal wealth falls out of the global billionaire top 500 list

According to Bloomberg, Coinbase's global CEO Brian Armstrong has seen his personal wealth shrink by more than $10 billion from a peak of $17.7 billion last July due to the continued decline in cryptocurrency prices, and he has fallen out of the Bloomberg Billionaires Index's global top 500 list.

Recently, JPMorgan lowered its target price for Coinbase by 27%, citing weak cryptocurrency prices, declining trading volumes, and slow growth in stablecoins, which further impacted Armstrong's wealth valuation.