Ripple co-founder loses $44 billion on paper during cryptocurrency crash (CNBC)

Somehow the "Larsen now holds the equivalent of just $15.8 billion" part makes it difficult to feel sympathy...

"The digital currency plunge has wiped billions from the paper fortune of a cryptocurrency billionaire in just a few weeks.

Ripple's XRP coin has fallen 74 percent from an all-time high of $3.84 hit on Jan. 4, erasing $44 billion from the holdings of Chris Larsen, co-founder and executive chairman of Ripple.

With XRP trading near $1 Wednesday, Larsen now holds the equivalent of just $15.8 billion, according to CNBC calculations using figures from Forbes. Citing sources at Ripple, Forbes said earlier this month that Larsen has 5.19 billion of XRP and a 17 percent stake in the start-up. Ripple holds 61.3 billion of the 100 billion XRP coins in existence."

 

Ripple co-founder loses $44 billion on paper during cryptocurrency crash