Coinbase CEO Brian Armstrong falls from Bloomberg’s top 500 richest list

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Coinbase CEO Brian Armstrong has fallen out of the top 500 richest individuals on the Bloomberg Index due to a decline in his net worth of over 50% since last year, largely attributed to a drop in Coinbase’s stock price amidst a broader downturn in the cryptocurrency market. This decline reflects a strong correlation between Coinbase shares and Bitcoin’s performance, which has been notably volatile, impacting the wealth of executives in the sector.

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