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Crypto market crash causes Ethereum co-founder to lose big

The cryptocurrency market has taken a massive dive in value causing the Ethereum co-founder to lose hundreds of millions.

@Jak_ConnorTT
Published Tue, Jun 22 2021 6:06 AM CDT   |   Updated Tue, Jul 20 2021 6:51 PM CDT

The cryptocurrency market has taken a sharp dive almost across the board. Even people such as Mark Cuban have said he has felt the "hit".

Crypto market crash causes Ethereum co-founder to lose big 03 | TweakTown.com

Cuban isn't alone when it comes to feeling the effects of the market dropping, and if you are involved in cryptocurrency in any way, you certainly know how it feels. Vitalik Buterin, the co-creator of Ethereum (ETH), and the world's youngest crypto billionaire, felt a loss of $400 million as Ethereum's value dropped by more than 50% in just 5 weeks.

Forbes reports that Buterin holds 325,001 and 1,366 ETH in two addresses currently valued at around $632,000,000. On May 3, his stack of ETH was valued at $1.09 billion, meaning that around $457,000,000 was lost in between May 3 and now. Ethereum is still ranked the no.2 coin when it comes to market capitalization, Bitcoin being the first with a $606,843,934,844 market cap, and Ethereum with $223,752,321,616. If you are interested in reading more about this story, check out this link here.

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NEWS SOURCE:forbes.com

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest news. Jak's love for technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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