Winklevoss Twins Have Fortunes Riding on Crypto Startup Comeback [Yahoo! Finance News]
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Source: Yahoo! Finance News
() -- The family office of billionaires Cameron and Tyler Winklevoss will serve as a test case for the staying power of crypto startups after TerraUSD’s collapse and as interest rates and recession fears rise.Most Read from One of the World’s Frothiest Housing Turned Into a Seller’s Headache OvernightStocks Off Lows After Flirting With Bear Market: WrapThrough Winklevoss Capital Management, the 40-year-old twins have investments in crypto startups from trading platform Slingshot to tax facilitator Taxbit to Praxis, which vows to build “the city-cryptostate to realize a more vital future.” Between their family office and the venture arm of their digital asset exchange Gemini, they have stakes in about 50 crypto or blockchain startups, according to portfolios they’ve posted online.The latest tumble in digital assets could test the durability of those bets. Global fundraising for tech startups declined in the first quarter for the first time in nearly two years, with venture capitalist
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