Wood, who has been bullish about cryptocurrencies like bitcoin, said her private funds are not investing in meme coins.

Though ARK Invest CEO Cathie Wood is worried about recession, she trusts the long-term “investable arc” of crypto.

Wood doubted the sustainability of several new meme coins that have sprung up recently. "Most of them are not going to be worth very much. We think there are just going to be a few crypto assets ...