Brian Armstrong, co-founder and CEO of Coinbase, Has fallen out of Bloomberg’s list of the world’s 500 richest people.
Since July 2025, Armstrong’s net worth has dropped by more than $10 billion. Armstrong’s net worth has fallen to about $7.5 billion from a peak of $17.7 billion, according to the Bloomberg Billionaires Index.
JPMorgan Chase & Co. cut its price target on Coinbase stock by 27% on Feb. 10, citing “soft cryptocurrency prices,” declining trading volumes and slowing adoption of stablecoins.
Coinbase stock price reflects Bitcoin’s volatility, falling 60% from its high on July 18, while Bitcoin itself has fallen nearly 50% from its all-time high of about $126,000 in early October 2025, to below $63,000 in early February 2026.
Coinbase (COIN) stock and Bitcoin (BTC) price performance. Source: TradingView
Armstrong’s wealth is closely tied to his 14% stake in Coinbase, the New York-based cryptocurrency trading platform he co-founded with Fred Ehrsam in 2012.
He also holds an investment in NewLimit, a biotech startup focused on longevity, and has sold some of his Coinbase shares over time.
Despite the heavy paper losses, Armstrong remains a billionaire, with an estimated net worth of about $7.5 billion.
The impact of the cryptocurrency plunge isn’t limited to Armstrong. The net worth of Gemini co-founders Cameron Winklevoss and Tyler Winklevoss fell to $1.9 billion from $8.2 billion in October 2025.
Gemini recently announced plans to lay off approximately 25% of its workforce and scale back some of its international operations.
Galaxy Digital CEO Michael Novogratz’s fortune shrank from $10.3 billion to $6.2 billion after he lost more than an expected $500 million in the fourth quarter of 2025.
Strategy Inc. co-founder Michael Saylor also lost about two-thirds of his fortune, bringing his net worth to $3.4 billion.
Coinbase itself has faced operational headwinds during the market downturn. Trading volume has dropped sharply, and trading revenue is expected to decline by 33.5% year-on-year in the fourth quarter of 2025.
Meanwhile, Polymarket projects a 29% chance that Coinbase Global’s GAAP earnings per share will exceed $0.61 in the relevant quarter.
Coinbase profit forecast. Source: Polymarket
During the sell-off, the “Coinbase Premium” (the price gap between BTC on Coinbase and other exchanges) became negative. This points to weak U.S. institutional demand and potential outflows.
The exchange is also facing further challenges from regulatory scrutiny and competition from other crypto platforms such as Hyperliquid.
Despite the turbulent environment, Armstrong maintains an optimistic long-term outlook. He publicly described cryptocurrencies as “eating financial services at an incredible rate” and saw the market downturn as an opportunity to develop new products.
Armstrong also predicted that the price of Bitcoin could reach $1 million by 2030, positioning the digital asset as a tool for wealth equality and financial innovation.
However, while Armstrong’s net worth has been severely affected, his position as founder and major shareholder will likely strengthen over time.
Historically, recessions have solidified the strength of surviving platforms, and if retail and institutional adoption rebound, Coinbase could become leaner and more dominant.
However, prolonged market weakness or a full-blown “crypto winter” could put pressure on growth and test leadership strategies.
The latest wave of losses reflects the high volatility in the cryptocurrency market. While Armstrong’s exit from the Bloomberg 500 reflects a sharp decline in paper wealth, long-time cryptocurrency pioneers like him have weathered multiple market cycles since 2012.
Read original reporting by Lockridge Okoth “Bitcoin price falls below $67,000, Coinbase CEO Brian Armstrong joins Fortune 500 list” by Lockridge Okoth, by beincrypto.com
