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- Family office of Winklevoss Twins will serve as a test case for remaining in power of cryptocurrency startups after the recent collapse in TerraUSD.
- Through Winklevoss Capital Management, Winklevoss Twins have investments in cryptocurrency startups from Slingshot to Taxbit to Praxis.
- Winklevoss Twins have stakes in around 50 cryptocurrency or blockchain startups, as per the portfolios they have posted online.
A Test For Winklevoss Twins
Recent plunge in virtual assets might test the durability of bets plated by Winklevoss Twins. International fundraising for technology startups plunged during the initial quarter. For the first time in around 2 years, with VCs warning the firms that they have started to slash the costs.
Ethereum and Bitcoin stayed suppressed by around 50% in contrast to their peak trading value during previous year.
One of the Winklevoss Twins stated that they think highly in making investments in the upcoming generation of visionaries and builders which are pushing the boundaries of possibility.
Winklevoss Twins denied any further comment in their office.
HODLing Bitcoin
Winklevoss Twins have a total net worth of $6.4 Billion and are the co-founders of Gemini cryptocurrency exchange and are one of the greatest Bitcoin holders.
Winklevoss Twins are the ones who claim that Mark Zuckerberg stole their idea to create the social network we know today as Facebook which recently got retitled to Meta.
The Winklevoss Twins by contrast utilizes Twitter and Instagram for promotion of their family business as well as over 75 of their investments. Winklevoss Twins have taken over the firms emblazoned with bright magenta badges on their website.
Winklevoss Twins investment involves Tezos and Xapo Bank as per the family office.
Winklevoss Twins joined Tiger Global Management and other investors previous month during a funding round for GamerGains Labs, which allows players to earn cryptocurrency rewards.
As for the latest cryptocurrency investments of Winklevoss Capital, some raised questions about how long these startups will be able to lure funding from the investors, even before the turmoil of this month.
The firm owned by Winklevoss Twins, which has sealed around 130 deals, passed on one it authentically liked after the initial price of the startup reached too lofty levels to stomach.
In case the Winklevoss Brothers approach their startup investments like they did for the crowned asset, they are likely to be in the haul for a longer term.
Winklevoss Twins are famous for, as they assert, that the social media platform Mark Zuckerberg owns, was originally their idea, and he stole the coding and stuff. There’s a movie titled “The Social Network” where an actor played Winklevoss Twins.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
