Billionaires Tyler and Cameron Winklevoss have made a $100 million loan to support their crypto exchange Gemini Trust Co, Bloomberg News reported on Monday, citing people familiar with the matter.

The move came after Gemini had informally sought funding from outside investors in recent months without coming to any agreements, according to the report.

Gemini did not immediately respond to a Reuters request for comment.

Venture funding in crypto-related companies has dried up due to recent failures of FTX and Silvergate Capital and a slowdown in the tech sector.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Anil D'Silva)