Winklevoss Twins news

Cameron and Tyler Winklevoss are American entrepreneurs, founders of Gemini, a cryptocurrency trading platform.

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Winklevoss twins foresee FAANG coins in the future as Facebook’s Libra threatens Gemini’s market

As global markets collectively hold their breath awaiting the Libra whitepaper, which has the potential to change the face of finance, technology, social media, and payments world as we know it, some are masking their fear in predictions. Facebook is on the brink of finally unveiling their GlobalCoin project, as well as a list of Project Libra’s official backers, and old foes are not pleased. Cameron and Tyler Winklevoss, spearheads of the Gemini Exchange and the stablecoin project of the same name, don’t seem too pleased with the prospects of a Facebook-made coin, a company they famously sued in 2004. Further, the Menlo Park giant’s plan of channeling this “GlobalCoin” via their messaging application and backing the same by a basket of fiat currencies puts it firmly in the fold of the stablecoins. This threatens the cause of the Gemini Dollar [GUSD] as well. With the launch of the Libra project only hours away, the twins mulled over the prospects of another premier coin arising from other top non-crypto inclined companies. Taking a cue from Zuckerberg’s Facebook, other top companies could release their own version of cryptocurrencies, predicted both Cameron and Tyler Winklevoss in a series of tweets. Tyler posed the same as a question, hinting at the possibility of the torch being passed from Menlo Park, California to Seattle, Washington, the home of the largest e-commerce company in the world, Amazon. Tyler tweeted, Which FAANG company will be next to announce a stablecoin? Amazon? — Tyler Winklevoss (@tylerwinklevoss) June 17, 2019 Cameron issued a tweet of his own, responding to Tyler’s question by saying, Prediction: ever FAANG company will have its own coin within 24 months. — Cameron Winklevoss (@winklevoss) June 17, 2019 If this does turn out to be true, we might be seeing Jeff Bezos taking a cue from Zuckerberg and following the zodiac terminology, by launching something like Amazon Leo [AML] token in the future. It was not too long ago when the Gemini founders were hailed within the cryptocurrency space for their adoption efforts through their partnership with the payments start-up Flexa. Through this collaboration, the likes of Starbucks, Whole Foods and Nordstrom began accepting crypto, a major retail breakthrough for the industry. Despite the news being a month old, the Winklevoss twins adoption miracle is firmly in the rear-view mirror, with Facebook’s Libra stealing the limelight. With Libra soon to be operational, essentially as a basket-backed stablecoin platformed on the biggest messaging application in the world and, as rumors go, pushed into one of the biggest messaging, payments and remittance markets in the world, India, other stablecoins will have to be wary. Gemini, a recent entrant into the stablecoin space, will have a lot to worry about given the fact that the likes of Tether [USDT] and USD Coin [USDC] do not look likely to fall to Libra anytime soon. Only time will tell what the exact intentions of the Libra project are. Will they mount the retail world as a digital equivalent for fiat, will remittance be their sole objective given the target markets or, with an eye towards the growing $300 billion cryptocurrency market, will they overhaul the stablecoin world altogether? As Zodiac signs go, Gemini concludes on June 21. However, with the imminent launch of Facebook’s Libra, many predict the twins’ time has come. The post Winklevoss twins foresee FAANG coins in the future as Facebook’s Libra threatens Gemini’s market appeared first on AMBCrypto.
AMBCrypto

Winklevoss Twins Bet Beyond FB Cryptocurrency to FAANG; XRP Challenges GlobalCoin/Libra

The release of Facebook’s cryptocurrency is due today, and the crypto-community is very eagerly waiting for all the details. Globalcoin/Libra will mark a milestone event for the emerging industry. Facebook sees a net profitable move by introducing its cryptocurrency. Winklevoss twins, the arch-rivals of Mark Zuckerberg are currently leading the cryptocurrency industry with their Gemini Exchange and Trust fund. Moreover, they have concentrated their efforts around building a system around cryptocurrencies like Bitcoin and Ethereum rather than introducing one. Tyler and Camera Winklevoss have made strong statements on Twitter recently targeting all Technology Giants together known as FAANG. FAANG is an abbreviation for Facebook, Apple, Amazon, Netflix, and Google. Cameron’s Tweet, Prediction: ever FAANG company will have its own coin within 24 months. Tyler’s tweet, Which FAANG company will be next to announce a stablecoin? Amazon? They seem to be pointing towards a tokenized economy around the world. However, the interoperability of these tokens and their effects on existing cryptocurrencies is a reason for apprehension and speculation. According to estimates, it has been established that Facebook cryptocurrency can increase the revenue of the company significantly. The share price of Facebook has also been on the rise since the announcement. It rose by another 3% yesterday. The price of FB inc, at 5: 00 hours UTC on 18th May 2019 is. Moreover, Bitcoin traders also saw this as a good piece of news which will credentialize the space.  However, Tuur Demeester, Research Analyst and Founding Partner at Adamant Capital noted that the exercise of introducing a cryptocurrency could be futile in the long run. The company stands to bear the extra cost through a regulatory compliance department, managing vast reserves of FIAT and cryptocurrency, and increased risk of manipulation and volatility in price. He tweeted, I don’t see the use of introducing massive friction by forcing a novel blockchain-based currency on customers: lose-lose prop. XRP Initiates Token Wars Reportedly, Facebook’s currency is backed by big names in the industry, including payments Giants VISA, MasterCard, and PayPal. The cryptocurrency could be directly leveraged to provide global refunds with early adoption. Nevertheless, XRP, the cryptocurrency designed for centralized payment, which stands at the highest risk of losing market due to there projects, also announced a strategic partnership with MoneyGram. Anthony Pompliano tweeted, Ripple not going down without a fight though — they just agreed to invest $50M in MoneyGram to accelerate adoption. The token wars are upon us! Which cryptocurrency do you think will come out on top? Will Cameron’s Prediction come true in a year? Please share your views with us.  The post Winklevoss Twins Bet Beyond FB Cryptocurrency to FAANG; XRP Challenges GlobalCoin/Libra appeared first on Coingape.
CoinGape

Winklevoss Twins Discuss their Foray into Bitcoin and Facebook’s New Currency

The Winklevoss Twins are two of the most popular people in the cryptocurrency sector. The two co-founders of the Gemini Trust Company, LLC, are both identical twins and popular athletes. For people outside of the finance sector the Winklevoss twins became more popular after “The Social Network” movie was released which showed the brothers as […]
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Winklevoss Twins on Bitcoin: ‘We Took a Cannonball off the Diving Board’

By CCN Markets: Tyler and Cameron Winklevoss shared the rundown on “CBS Sunday Morning” alongside Father’s Day, Tim Allen and the latest edition of Toy Story as well as a look back at the Transcontinental Railroad. The twins were featured for their billionaire status, which they achieved through their early investment in bitcoin. The Winklevii were astute enough to invest in bitcoin when it was trading in the high-single digits. Today the bitcoin price is hovering above $9,000. They explained on CBS their “decision to buy 1% of all bitcoins in the world,” saying: “Some people might dive off the The post Winklevoss Twins on Bitcoin: ‘We Took a Cannonball off the Diving Board’ appeared first on CCN Markets
CCN

‘Crypto Mom’ criticizes SEC for “smothering ETFs with personalized attention,” reiterates support for the Winklevoss twins’ bitcoin ETF

SEC Commissioner Hester Peirce thinks her agency is being overly cautious on its considering of a cryptocurrency ETF, urging for new ETF rules that can accelerate the approval process, the Financial Times writes.  At a conference in New York last month, the SEC commissioner, who has been referred to as “Crypto Mom," said that the SEC was “still smothering ETFs with personalized attention as if they were infants.” Currently, asset managers hoping to open a new EFT usually apply under the purview of the 1940 Investment Company Act, which is said to be more stringent in approving cryptocurrency funds. The commissioner also voiced her support for the Winklevoss twins’ ETF proposal again, whose rejection by the SEC last July prompted a written dissent from Peirce.   To date, the SEC has yet to approve any cryptocurrency ETF, despite the tenuous effort by asset management firms such as Bitwise and VanEck. Last week, Bitwise submitted a white paper to the SEC, arguing that the cryptocurrency market is much more efficient and regulated than how it is perceived by the general public. This statement is in direct response to the SEC’s concerns over fraud and price manipulation in the cryptocurrency market, which the regulator cited as one of the major reasons why all bitcoin ETF proposals had been delayed or rejected.
The Block Crypto

Nothing will Stop Bitcoin from Disrupting Gold – Tyler Winklevoss

With the ongoing Bitcoin bull market, many have speculated that the cryptocurrency will soon replace gold as a store of value. Co-Founder of Gemini exchange, Tyler Winklevoss says there is no reason why Bitcoin will not disrupt the gold market. Source: Twitter The Bitcoin-gold struggle Gold has been the top store of value for centuries now. Until now, it has not met any real competition but Bitcoin is about to replace it. This is what many important persons in the cryptocurrency space believe. Keiser Report Host Max Keiser earlier this month in an interview with Kitco News said although Bitcoin is relatively new, it is coming up to a level of maturity that will threaten gold. Also in a more recent interview with Wells Fargo’s Head of Real Asset Strategy John Laforge cautioned investors against getting too comfortable investing in gold as the price is not performing as expected. According to Laforge, cryptocurrency should not affect the gold price because they are quite new and he expected gold to appreciate despite the surge in Bitcoin price. Gold, however, has been complacent despite the volatility that has hit the market and that is not characteristic of a good store of value, he added. Although he did mention other metals such as Polonium, crypto enthusiasts still count this as a potential advantage for Bitcoin. Also Read: Roger Ver Strikes Back at “Dropgold” Proponents, Says Bitcoin is Digital Fool’s Gold The Dropgold Campaign Digital Currency Group (DCG) Founder Barry Silbert has been working aggressively on his Dropgold campaign to further the adoption of Bitcoin while reducing patronage for gold. Silbert’s campaign has been quite successful, currently airing on National TV in the United States. With this in place and the skepticism coming from a major gold-friendly company like Wells Fargo, Bitcoin might really have a chance at disrupting the gold industry in the near future. The post Nothing will Stop Bitcoin from Disrupting Gold – Tyler Winklevoss appeared first on Coingape.
CoinGape

Cameron Winklevoss Compares Value of Domain Names in Dot-Com Era to Crypto Assets: Which Wins?

Bitcoin has an impressive following, with investors and proponents like Cameron and Tyler Winklevoss that have called the asset the Future of Money. The twosome has established the Gemini crypto exchange as co-founders, and have aggressively worked to make sure that the industry is seen in a more positive light. Most recently, Cameron spoke about […]
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Cryptocurrency influencers react to Facebook’s Libra, boon or risk for Bitcoin?

Some of the most prominent figures in the crypto community took to Twitter to share their thoughts on Facebook’s Libra cryptocurrency. While some claim that Libra lacks the necessary features to compete with Bitcoin in the race to become the world’s currency, others argue that it could destroy most altcoins and stablecoins in the market. 2/ Libra's mission is to enable a simple global currency and financial infrastructure that empowers billions of people. — David Marcus (@davidmarcus) June 18, 2019 Facebook’s Libra Facebook’s highly anticipated cryptocurrency was finally unveiled. “[It] is a new global cryptocurrency, built on an open-source blockchain called the Libra Blockchain featuring its own proof-of-stake protocol,” said the whitepaper. The term “global cryptocurrency” comes from the fact that it nodes will be distributed across the globe and it is not pegged to a single fiat currency, according to the documents. Instead, it will be backed by different real-world assets denominated in the American dollar, British pound, Japanese yen, and the euro and other low-risk securities. The Libra Association, a Switzerland-based non-profit, will release the Libra blockchain in 2020 with a group of 28 founding members that will be in charge of validating transactions in the network. The list of network validators include Visa, Mastercard, Paypal, Uber, Lyft, eBay, and others, that have invested around $10 million to be part of the board and operate a node. Facebook also launched a new subsidiary called Calibra, which is a digital wallet designed to “provide financial services that will enable people to access and participate in the Libra network.” With Facebook’s gigantic user base and its ability to leverage WhatsApp, Messenger, and Instagram, Calibra will instantaneously compete with the world’s most popular existing wallets and exchanges, such as Coinbase, RobinHood, CashApp, and others. Even though this is a massive play for Facebook for entering the financial services industry, the cryptocurrency community expressed a mixture of concern, distrust, and excitement. Many took to Twitter to express their sentiment about the recent move by the social network giant. Crypto Twitter’s reaction Anthony Sassano, the co-founder of EthHub, points out that in order to sign up for Calibra, a government-issued ID is required to “comply with laws and prevent fraud.” 2/ To get started with Calibra, you'll need a government-issued ID to sign up for an account and the website states that "identity verification is important to comply with laws and prevent fraud, so you know people are who they say they are." Well, of course 😅 — Anthony Sassano (@sassal0x) June 18, 2019 According to @AkadoSand, this KYC procedure poses a major security risk for its users since the first time a transaction is made from an account, any future transactions will be linked to it as well as any other sensitive information. $LIBRA will be the best thing that will happen to chain analysis and LE. From the moment you make a single tx, your id will be linked to it and all future txs forever Like BTC but as soon as you use it you're automatically KYC'ed. Profile, location, timestamps, preferences, etc — Akado 'Bitcoin Halving in 339 days' Sang (@AkadoSang) June 16, 2019 With a user base of two billion people, Changpeng Zhao, the founder and CEO of Binance, believes that Facebook will not only have access to its users names, IDs, addresses, phone numbers, family members, friends, real-time and historic location, but with the introduction of Calibra, it will now gain access to their financial data. Facebook Libra coin don't need KYC. They have so much more data on the 2 billion people. Not just name, id, address, phone number. They know your family, friends, real-time/historic location, what you like… They know you more than yourself. And now your wallet too. Best AML! — CZ Binance (@cz_binance) June 18, 2019 Such a vast amount of information under a central authority could lead to a “disaster in slow motion,” as Tamas Blummer, a Bitcoin Core developer, indicates. The VP at CoinTerra suggests that technical features of Libra, such as “account model, generic language, [and] on-chain scaling,” makes it more of an Ethereum competitor than Bitcoin. Libra resembles Ethereum more than Bitcoin. It contains all the features that make Ethereum garbage. account model, generic language, gas, on-chain scaling with sharding, some BFT consenus. In addition it has to implement all KCY and AML. A sure disaster in slow motion. — Tamas Blummer (@TamasBlummer) June 18, 2019 Along the same lines, Pavol Rusnak, CTO at SatoshiLabs, and Ran Neu-Ner, CEO of Onchain Capital,  asserted that Facebook’s new cryptocurrency could have the potential to replace altcoins and stablecoins, but it will fail against Bitcoin. Facebook just gave Bitcoin its biggest boost ever and also rendered 90% of alts useless at the same time. — Ran NeuNer (@cryptomanran) June 18, 2019 The fact that Libra is not decentralized or censorship resistant, while its legal and tax status remains unclear— as Larry Cermak, research director at The Block Crypto pointed out—reduces its chances of becoming “the Bitcoin killer.” Just so we are clear, Libra is:– not decentralized– not censorship resistant– not guaranteed to work technologically – not guaranteed to be cleared by regulators– not clear in regards to tax implications — Larry Cermak (@lawmaster) June 18, 2019 To Peter Todd, a Bitcoin Core developer, Libra is indeed just an “unscalable centralized database,” but to Saifaden Ammous, author of The Bitcoin Standard, it is actually the only cryptocurrency other than Bitcoin that has the potential to succeed. Libra whitepaper initial analysis: The only digital currency other than bitcoin that matters, and it could succeed massively. But it does not compete with bitcoin, it reinforces bitcoin's value proposition, and will likely need to rely on bitcoin if it succeeds. Thread👇 — Saifedean Ammous (@saifedean) June 18, 2019 Libra is still one year away from being launched and its impact on the cryptocurrency market remains to be seen. As Facebook advertises its new project to its 2 billion customers, more people will be exposed to the terms “cryptocurrency” and “blockchain,” which could bring more attention into the market. The overall sentiment across the crypto community can be summed up in one tweet by Alistair Milne, CIO at Atlanta Digital Currency Fund. Sell Libra, buy Bitcoin — Alistair Milne (@alistairmilne) June 18, 2019 The post Cryptocurrency influencers react to Facebook’s Libra, boon or risk for Bitcoin? appeared first on CryptoSlate.
Cryptoslate

Facebook unveils Libra cryptocurrency

Facebook announced its own cryptocurrency Libra that will be backed and controlled by the Libra Association which also includes founding members Uber, Lyft and Spotify. The platform will allow users to buy and send money without racking up as many fees as traditional financial platforms. Users can buy or cash out the cryptocurrency at local exchange points and spend it using interoperable third-party wallet apps, according to a Libra whitepaper. The cryptocurrency also claims to make it easier to send money between countries for less that it would cost with traditional providers. Facebook is also launching a subsidiary called Calibra to handle its crypto dealings and protect user privacy by keeping Libra payments and Facebook data separate so that it won’t be used for targeted advertising. User identities also won’t be tied to publicly visible transactions but Libra association members will earn interest on money that users cash in. That interest will be held in reserve to keep the value of the currency stable. ProPrivacy.com digital privacy expert Ray Walsh expressed doubts about the platform given Facebook’s track record for protecting consumer data. “Considering that Facebook is already the second largest advertiser in the world (second only to Google), this added integration is concerning,” Walsh said. “The idea that social data and financial data could be combined is worrying, and although Facebook claims that it will keep the distinct data sets at arm’s length – it is hard to believe that consumer habits will not be tracked in order to allow Facebook to better serve ads,” he said. Walsh contended because Facebook produces the majority of its revenue through ads and has proven untrustworthy with consumer data on several occasions in the past, it seems unlikely that the company does not plan to exploit as much consumer data as legally permitted. The post Facebook unveils Libra cryptocurrency appeared first on SC Media.
SC Media

CNBC Video: Jim Cramer Calls Facebook’s Libra Cryptocurrency Coin Brilliant After Reading Whitepaper

Facebook Officially Announces The Creation Of Its Cryptocurrency Libra, CNBC’s Cramer Says the Project Is Brilliant Today, Facebook finally announced its most awaited project, Libra. According to the organization, a new Facebook regulated subsidiary called Calibra was created in order to manage the project and to create a new wallet based on the service. The head of […]
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