Share This Article

Facebook LinkedIn
Twitter Reddit
Print Email
Pinterest Gmail
Yahoo
Money Morning
×
  • Invest
    • Best Stocks to Buy
    • Stock Forecasts
    • Stocks to Sell Now
    • Stock Market Predictions
    • Technology Stocks
    • Best REITs to Buy Now
    • IPO Stocks
    • Penny Stocks
    • Dividend Stocks
    • Cryptocurrencies
    • Cannabis Investing
    • Angel Investing
  • Trade
    • How to Trade Options
    • Best Trades to Make Now
    • Options Trading Strategies
    • Weekly Trade Recommendations
  • Retire
    • Income Investing Guide
    • Retirement Articles
  • More
    • Money Morning LIVE
    • Special Investing Reports
    • Our ELetters
    • Our Premium Services
    • Videos
    • Meet Our Experts
    • Profit Academy
Login My Member Benefits Archives Research Your Team About Us FAQ
  • Invest
    • Best Stocks to Buy
    • Stock Forecasts
    • Stocks to Sell Now
    • Stock Market Predictions
    • Technology Stocks
    • Best REITs to Buy Now
    • IPO Stocks
    • Penny Stocks
    • Dividend Stocks
    • Cryptocurrencies
    • Cannabis Investing
    • Angel Investing
    ×
  • Trade
    • How to Trade Options
    • Best Trades to Make Now
    • Options Trading Strategies
    • Weekly Trade Recommendations
    ×
  • Retire
    • Income Investing Guide
    • Retirement Articles
    ×
  • More
    • Money Morning LIVE
    • Special Investing Reports
    • Our ELetters
    • Our Premium Services
    • Videos
    • Meet Our Experts
    • Profit Academy
    ×
  • Subscribe
Enter stock ticker or keyword
×
5 Ways to Beat the Fed (and Crush Inflation)

Email this Article

Send with mail | ahoo instead.
Required Needs to be a valid email
Required Needs to be a valid email
Gemini Bitcoin Exchange from the Winklevoss Twins Is One Step Closer to Launch
http://mney.co/1HVkEaa
Required Please enter the correct value.
Twitter

Gemini Bitcoin Exchange from the Winklevoss Twins Is One Step Closer to Launch

By David Zeiler, Associate Editor, Money Morning • @DavidGZeiler • July 27, 2015

Start the conversation

Comment on This Story Click here to cancel reply.

Or to contact Money Morning Customer Service, click here.

Your email address will not be published. Required fields are marked *

Some HTML is OK

Winklevoss twinsThe Gemini Bitcoin exchange, another Bitcoin-related Winklevoss twins project, took a major step forward last week.

Cameron and Tyler Winklevoss filed an application with the New York State Department of Financial Services (NYDFS) for the Gemini Bitcoin exchange to operate as a trust company.

Under New York law, a trust company shares many of the same privileges as a bank, including taking deposits - a key ability for any company wishing to operate as a Bitcoin exchange.

Approval is expected to take a minimum of several weeks, if not months.

The Winklevoss twins also are awaiting U.S. Securities and Exchange Commission approval of the Winklevoss Bitcoin Trust, a Bitcoin exchange-traded fund (ETF) that will trade under the ticker Nasdaq: COIN.

Why the Gemini Bitcoin Exchange Matters

The Winklevoss twins first announced the Gemini Bitcoin exchange in January and intend to operate across the whole of the United States. Should the NYDFS approve Gemini, however, it won't be the first U.S. Bitcoin exchange to get regulatory approval.

The ItBit Bitcoin exchange snagged that distinction back in May.

But the rise of government-approved Bitcoin financial entities, like the increasing interest from Wall Street, is vital to creating public trust in the digital currency. Approval of the Gemini Bitcoin exchange will be a major piece of that process.

The Winklevoss twins gained fame as the roommates of Facebook Inc. (Nasdaq: FB) CEO Mark Zuckerberg. They sued him for $140 million for stealing what they said was their idea for the social network.

Since then, the Winklevoss twins have become prominent investors in Bitcoin. The twins are believed to hold at least 100,000 bitcoins, worth about $29 million at today's Bitcoin price of about $290.

The Winklevoss twins also created their own Bitcoin price index, the Winkdex, which uses a weighted formula based on trading at the top three Bitcoin exchanges.

Follow me on Twitter @DavidGZeiler.

The China-Bitcoin Connection: While some thought the recent bounce in the price of Bitcoin from $223.31 on June 1 to as high as $310 on July 12 was due to the Greek debt crisis, the plunge of the Chinese stock market also coincided with the Bitcoin price surge. Here's why it's much more likely that China, not Greece, was the force driving Bitcoin higher...

Join the conversation. Click here to jump to comments…

David ZeilerDavid Zeiler

About the Author

Browse David's articles | View David's research services

David Zeiler, Associate Editor for Money Morning at Money Map Press, has been a journalist for more than 35 years, including 18 spent at The Baltimore Sun. He has worked as a writer, editor, and page designer at different times in his career. He's interviewed a number of well-known personalities - ranging from punk rock icon Joey Ramone to Apple Inc. co-founder Steve Wozniak.

Over the course of his journalistic career, Dave has covered many diverse subjects. Since arriving at Money Morning in 2011, he has focused primarily on technology. He's an expert on both Apple and cryptocurrencies. He started writing about Apple for The Sun in the mid-1990s, and had an Apple blog on The Sun's web site from 2007-2009. Dave's been writing about Bitcoin since 2011 - long before most people had even heard of it. He even mined it for a short time.

Dave has a BA in English and Mass Communications from Loyola University Maryland.

… Read full bio

Login
guest
guest
0 Comments
Inline Feedbacks
View all comments
LIVE
Visit Money Morning Live


Latest News

January 19, 2023 • By Money Morning Stock Research Team

These Stocks Could Go To $0

January 9, 2023 • By Money Morning Stock Research Team

The Government Is Pouring $391 Billion Into These Stocks - Buy Now

December 27, 2022 • By Money Morning Staff Reports

6 IPOs in 2023 You Can’t Afford to Miss
Trending Stories
ABOUT MONEY MORNING

Money Morning gives you access to a team of market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors.

QUICK LINKS
About Us COVID-19 Announcements How Money Morning Works FAQs Contact Us Search Article Archive Forgot Username/Password Archives Profit Academy Research Your Team Videos Text Messaging Terms of Use
FREE NEWSLETTERS
Total Wealth Research Power Profit Trades Profit Takeover This Is VWAP Penny Hawk Trading Today Midday Momentum Pump Up the Close
PREMIUM SERVICES
Money Map Press Home Money Map Report Fast Fortune Club Weekly Cash Clock Night Trader Microcurrency Trader Hyperdrive Portfolio Rocket Wealth Initiative Extreme Profit Hunters Profit Revolution Warlock's World Penny Nation Quantum Data Profits Live Trading Alliance Trade The Close Inside Money Trader Expiration Trader Vega Burst Trader Flashpoint Trader Darknet Hyper Momentum Trader

© 2023 Money Morning All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning.

Address: 1125 N Charles St. | Baltimore, MD, 21201 | USA | Phone: 888.384.8339 | Disclaimer | Sitemap | Privacy Policy | Whitelist Us | Do Not Sell My Info

wpDiscuz