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Bitcoin Drop Wipes $10 Billion From Brian Armstrong’s Net Worth

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Coinbase (COIN) Stock and Bitcoin (BTC) Price Performances

Brian Armstrong, co-founder and CEO of Coinbase, has dropped out of Bloomberg’s list of the world’s 500 richest people.

Armstrong’s net worth has fallen by more than $10 billion since July 2025. According to the Bloomberg Billionaires Index, it is down from a peak of $17.7 billion to around $7.5 billion.

Brian Armstrong’s Wealth Plummets as Coinbase Shares and Bitcoin Price Slide

The latest slide comes after JPMorgan Chase & Co. cut its price target for Coinbase stock by 27% on February 10, citing “softness in crypto prices,” declining trading volumes, and slower stablecoin adoption.

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Coinbase shares have mirrored Bitcoin’s volatility, falling 60% from a July 18 high, while Bitcoin itself has dropped nearly 50% from its early October 2025 all-time high of around $126,000 to below $63,000 as of early February 2026.

Coinbase (COIN) Stock and Bitcoin (BTC) Price Performances
Coinbase (COIN) Stock and Bitcoin (BTC) Price Performances. Source: TradingView

Armstrong’s wealth is closely tied to his 14% stake in Coinbase, the New York-based crypto trading platform he co-founded with Fred Ehrsam in 2012.

He also holds investments in NewLimit, a biotech startup focused on longevity, and has historically sold portions of his Coinbase holdings over time.

Despite the sharp paper losses, Armstrong remains a billionaire, with his net worth estimated at approximately $7.5 billion.

The impact of the crypto slump extends beyond Armstrong. Cameron and Tyler Winklevoss, co-founders of Gemini, have seen their net worths fall to $1.9 billion each from $8.2 billion in October 2025.

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Gemini recently announced plans to cut roughly 25% of its workforce and scale back some international operations.

Michael Novogratz, CEO of Galaxy Digital, saw his fortune shrink from $10.3 billion to $6.2 billion following a greater-than-expected $500 million loss in Q4 2025.

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Strategy Inc. co-founder Michael Saylor also lost about two-thirds of his wealth, bringing his net worth to $3.4 billion.

Coinbase Navigates Market Headwinds While Armstrong Stays Bullish

Coinbase itself has faced operational headwinds amid the market downturn. Trading volumes have dropped sharply, and Q4 2025 transaction revenue is projected to decline 33.5% year over year.

Meanwhile, Polymarket betters see a 29% chance that Coinbase Global’s GAAP EPS for the relevant quarter will beat $0.61.

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Coinbase Earnings Projections
Coinbase Earnings Projections. Source: Polymarket

During the sell-off, the “Coinbase premium”—the price gap between BTC on Coinbase versus other exchanges—turned negative. This indicates weaker US institutional demand and potential outflows.

The exchange is further challenged by regulatory scrutiny and competition from other crypto platforms like Hyperliquid.

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Despite the turbulent environment, Armstrong has maintained a bullish long-term outlook. He has publicly described crypto as “eating financial services at an incredible rate” and views market slumps as opportunities to build new products.

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Armstrong has also predicted that Bitcoin could reach $1 million by 2030, framing the digital asset as a tool for wealth equalization and financial innovation.

However, while Armstrong’s net worth has been heavily impacted, his position as a founder and major shareholder could strengthen over time.

Historically, downturns have consolidated power among surviving platforms, and Coinbase may emerge leaner and more dominant if retail and institutional adoption rebounds.

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Nevertheless, prolonged market weakness or a full “crypto winter” could pressure growth and test leadership strategies.

The recent wave of losses reflects the high volatility of crypto markets. While Armstrong’s exit from Bloomberg’s top 500 reflects a sharp contraction in paper wealth, long-term crypto pioneers like him have weathered multiple market cycles since 2012.

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Crypto World

North Korea Linked Hackers Deploy New Crypto Malware

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North Korea Linked Hackers Deploy New Crypto Malware

North Korea-linked threat actors are escalating social engineering campaigns targeting cryptocurrency and fintech companies, deploying new malware designed to harvest sensitive data and steal digital assets.

In a recent campaign, a threat cluster tracked as UNC1069 deployed seven malware families aimed at capturing and exfiltrating victim data, according to a Tuesday report from Mandiant, a US cybersecurity firm that operates under Google Cloud.

The campaign relied on social engineering schemes involving compromised Telegram accounts and fake Zoom meetings with deepfake videos generated through artificial intelligence tools.

“This investigation revealed a tailored intrusion resulting in the deployment of seven unique malware families, including a new set of tooling designed to capture host and victim data: SILENCELIFT, DEEPBREATH and CHROMEPUSH,” the report states.

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Threat actor UNC1069, attack chain. Source: Mandiant/Google Cloud

Related: CZ sounds alarm as ‘SEAL’ team uncovers 60 fake IT workers linked to North Korea

Mandiant said the activity represents an expansion of the group’s operations, primarily targeting crypto firms, software developers and venture capital companies.

The malware included two newly discovered, sophisticated data-mining viruses, named CHROMEPUSH and DEEPBREATH, which are designed to bypass key operating system components and gain access to personal data.

The threat actor with “suspected” North Korean ties has been tracked by Mandiant since 2018, but AI advancements helped the malicious actor scale up its operations and include “AI-enabled lures in active operations” for the first time in November 2025, according to a report at the time from the Google Threat Intelligence Group.

Cointelegraph contacted Mandiant for additional details regarding the attribution, but had not received a response by publication.

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Related: Balancer hack shows signs of months-long planning by skilled attacker

Attackers are stealing crypto founder accounts to launch ClickFix attacks

In one intrusion outlined by Mandiant, attackers used a compromised Telegram account belonging to a crypto founder to initiate contact. The victim was invited to a Zoom meeting featuring a fabricated video feed in which the attacker claimed to be experiencing audio problems.

The attacker then directed the user to run troubleshooting commands in their system to fix the purported audio issue in a scam known as a ClickFix attack.

The provided troubleshooting commands had embedded a hidden single command that initiated the infection chain, according to Mandiant.

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UNC1069 victimology map. Source: Mandiant/Google Cloud

North Korea-linked illicit actors have been a persistent threat to both crypto investors and Web3-native companies.

In June 2025, four North Korean operatives infiltrated multiple crypto firms as freelance developers, stealing a cumulative $900,000 from these startups, Cointelegraph reported.

Earlier that year, the Lazarus Group was linked to the $1.4 billion hack of Bybit, one of the largest crypto thefts on record.

Magazine: Coinbase hack shows the law probably won’t protect you — Here’s why

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