The senior executives of cryptocurrency organisations have been severely and unexpectedly impacted by the drop of cryptocurrency prices, particularly bitcoin.
It will take some time before the harm caused by the cryptocurrency market fall can be quantified.
According to data provider CoinGecko, digital currency prices have fallen precipitously since their peak in November, wiping off roughly $2.4 trillion.
The most well-known cryptocurrency, Bitcoin, has fallen almost 73% of its value since peaking at a record $69,077.44 on November 10.
In the sector, thousands of employment have been cut or frozen. The crypto industry, which has called for clear regulation, is now very much on the authorities' radar.
They interpret the cryptocurrency crisis as evidence that the existing financial system's stability is being threatened by the fledgling sector.
The CEOs and founders, who are frequently the same in the cryptocurrency industry, represent a different group of victims of the crypto meltdown, but they have received less attention.