The Winklevoss twins are banking on a crypto comeback following the collapse of TerraUSD due to the rise of interest rates and recession fears.
The Sydney Morning Herald reports brothers Cameron and Tyler have their fortunes invested in crypto start-ups from trading platform Slingshot to tax facilitator Taxbit to Praxis. According to their portfolios, the 40-year-old siblings have stakes in about 50 crypto or blockchain start-ups.
Despite the collapse of TerraUSD and digital token coin, Luna, the pair were still receiving funds from venture capitalists in April and made US$5 billion ($7.7b) during the first quarter. While bitcoin and ether fell 50 per cent during last year’s peak, Venture capital fundraising, US crypto or blockchain firms are on track to fall short of last year’s deal count, according to PitchBook data.
“We believe in investing in the next generation of builders and visionaries who are pushing the boundaries of what’s possible,” Cameron Winklevoss said in a statement provided to Bloomberg earlier this year. “They are risk takers who want to build a better human experience and aren’t afraid to think big and fail greatly.”