Topic: [2018-03-08] Winklevoss Twins Say Crypto Exchange May Offer More Coins (Read 129 times)

It is good exchange. But if it accepts Bitcoin Cash, will it be boycotted by many core supporters?

I think Gemini is a true cryptocurrency exchange. It`s a lot older than new one`s, like Kucoin or Binance; Geminini provides service from 2015. In 2016 Gemini became the world's first licensed ether exchange. Maybe most of average traders may never heard about it, because it can charge larger fees for their service, but this proposal may be quite acceptable for institutional investors. Big whales, long term players may pay much more money for the safety of their assets. Just think about it, have you ever heard about funds stolen from Gemini? I'm not.

If they are a true cryptocurrency exchange then they should be offering more coins. If not they should be just called a bitcoin exchange. As a trader I would prefer a lot more options than just sticking to what is the mainstream one. I know there are traders that only trade BTC/USD but I think there are a lot more money to be made with other pairs.

I wonder how many of these exchanges are going to get approval from the SEC? I think the twins wants to position themselves to grab a large share of the market, if the SEC deny some of these exchanges. They must still own a significant amount of BCash for them to support it. 

I can understand the move to support Litecoin, because it is the closest coin to Bitcoin at the moment, but the BCash decision caught me off guard.

- Bitcoin Cash, Litecoin are likely candidates for expansion
- Announcement has significance for its Bitcoin partner Cboe

The Winklevoss twins said their main 2018 goal for Gemini Exchange, the Bitcoin and Ethereum trading platform they run, is eyeing expansion to other tokens such as Bitcoin Cash and Litecoin.

Their comments have significance for Cboe Global Markets Inc., Gemini’s partner on Bitcoin futures. Cboe, a Chicago-based exchange, has signaled it wants to offer futures contracts on digital currencies besides Bitcoin, but it needs Gemini’s help.

Gemini has an exclusive deal to supply the data used to calculate Cboe’s Bitcoin contract. Cboe could presumably add Ethereum now, given Gemini trades that, but expanding further would require Gemini widening its roster. Tyler Winklevoss said the licensing agreement with Cboe is scalable, and they entered into the deal knowing it could expand in terms of offerings.

Obvious candidates for expansion “are from the Satoshi Nakamoto family tree -- Bitcoin cash, Litecoin,” Tyler Winklevoss said.

Adding Bitcoin cash and Litecoin would increase Gemini’s offerings to the same as Coindesk Inc., a major U.S. rival. That could boost the value of both: When Coinbase added coins in the past, the prices shot up.

In their remarks on Thursday at a Cboe event in Florida, Cameron and Tyler Winklevoss said they “applaud” the statement from the U.S. Securities and Exchange Commission on Wednesday saying that platforms serving as venues for digital assets that are securities will need to register with the agency as a national exchange, or qualify for an exemption.



They also said they aren’t concerned about the recent slowdown in Bitcoin volume, as it’s happened dozens of times before and the long-term trend is still in the right direction. The customer quality and institutional base is better even than a year ago, they said, and “futures have gotten off to an incredible start.”

“In 2018, you’re really going to see institutions and Wall Street really get in, and it’s going to look very different,” Tyler Winklevoss said.

https://www.bloomberg.com/news/articles/2018-03-08/winklevoss-twins-say-crypto-exchange-wants-to-offer-more-coins