The Winklevoss Twins on the Future of Cryptos…Case of The “Has-Beens”?

By May 16, 2016Bitcoin Business

As founders of bitcoin and ether exchange Gemini, the Winklevoss Twins graced us with their presence on Fox Business . The interview was lackluster and so was their “vision.” Are these guys still relevant?

Ok ok, we get it. You guys almost had your day in the sun with Facebook…and it didn’t work out. So since you guys “discovered” cryptos a few years back you may have found a method to legitimize your position in tech. Not with lame, day-old insight like this fellas.

Recently on Fox Business, the Winklevoss Twins gave an interview from the SALT Conference in Las Vegas. The topic was their crypto exchange Gemini . The Twins believe, and rightfully so, that cryptos and fiat will exist in one big financial ecosystem. They pitched Gemini as the equivalent of “call options on two major technologies” as the exchange allows ether and bitcoin to be traded. Hmmm.

Apparently the most interesting aspect of the exchange is that the Twins have been able to begin to build a regulatory framework within which it can operate. New York State recently gave Gemini its seal of approval . Yes, this is interesting. Unfortunately, it is about a 2 on a scale of 10. Why? Let’s dig in.

As previously mentioned, Gemini is currently configured to allow trading of ether and bitcoin. Exchanges are absolutely nothing new, the Twins acknowledge as much. However, one of the aspects of their business that they underscore is the approval from the State of New York. If this were 2 or 3 years ago perhaps that would have been newsworthy. However, in 2016, this is simply a fluffy marketing piece for New York. ConsenSys is based in New York, so is Gemini ( among many others ) and I am certain that New York would like to […]

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