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The Winklevoss brothers are looking to add additional cryptocurrencies to the Gemini Exchange, while also praising the U.S. Securities and Exchange Commissionâs recent statements.
Expanding Gemini
The Winklevoss twinsâ cryptocurrency exchange Gemini Exchange is looking to expand with the addition of Litecoin (LTC) and Bitcoin Cash (BCH). Currently, Gemini Exchange only offers Bitcoin and Ethereum trades.
Tyler Winklevoss claimed that the most obvious additions to Geminiâs roster of offerings âare from the Satoshi Nakamoto family tree â Bitcoin Cash, Litecoin.â
As noted by Bloomberg, the Winklevossâ twins plans are not only significant for the Gemini Exchange but for its Bitcoin futures partner Cboe Global Markets Inc. Cboe is based out of Chicago and is interested in offering futures contracts on additional cryptocurrencies. In order to accomplish this, however, Cboe needs Geminiâs assistance.
Cboe exclusively uses Geminiâs data supply when calculating Bitcoin contracts. While Ethereum is currently available â since the second-largest cryptocurrency by market cap is already traded on Gemini â Cboe needs Gemini to add more coins if it wants to offer additional futures contracts.
Supporting the SEC
Bloomberg also notes that, at the Cboe event in Florida, the Winklevoss twins said they âapplaudâ the U.S. Securities and Exchange Commissionâs statement that exchanges offering digital assets which qualify as securities must register, or meet criteria for exemption.
Bitcoinâs Still Moving in the Right Direction
The Winklevoss twins, who are heavily invested in Bitcoin, also claimed to be unconcerned with the dramatic slowdown in Bitcoin trading volume â citing the fact that, historically, itâs just par for the course. In the long-term, they see Bitcoin as trending upwards, and also claimed that âfutures have gotten off to an incredible start.â
Tyler Winklevoss also noted:
In 2018, youâre really going to see institutions and Wall Street really get in, and itâs going to look very different.
Previously, Cameron Winklevoss matched his brotherâs bullish sentiment by claiming Bitcoin could see a 40x increase in valuation âsomeday.â He stated:
So if you look at a $100 billion market cap today, now last week it might have been more like 200, so itâs actually a buying opportunity, we think that thereâs a potential appreciation of 30 to 40 times because you look at the gold market today, itâs a $7 trillion market. And so a lot of people are starting to see that, they recognize the store of value properties. So we think regardless of the price moves in the last few weeks, itâs still a very under-appreciated asset.
Which coins would you like to see added to Gemini? Would you like to see different futures contracts offered? Let us know in the comments below!
Images courtesy of AdobeStock, Bloomberg, Pixabay
The post Gemini Exchange May Soon Offer Litecoin and Bitcoin Cash appeared first on Bitcoinist.com.
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