Since November, the cryptocurrency market has lost more than $1.6 trillion, resulting in massive losses for digital currency investors.
Many young investors and founders of the most ambitious crypto ventures became millionaires thanks to the euphoria of the cryptocurrency market in 2021.
When bitcoin and ethereum, the two most popular digital currencies, hit all-time highs last November, a large number of these entrepreneurs became billionaires.
The majority of them were under the age of 40, but some were as young as 30. They represented the new capitalists, a new group of ultra-wealthy individuals promising financial democratization.
Two back-to-back crashes, one in January and the other still occurring, have wiped out many of the profits — and much of the optimism.
The fortunes of those who built the cryptosphere have likewise fallen. This is the case of Vitalik Buterin, 28, dubbed "The Prince of Crypto" by Time magazine.
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