According to reports on Dec. 11 via an official blog post on their website, the founders of Gemini Crypto trading platform Cameron and Tyler Winklevoss have launched their own mobile crypto trading application with a new investment medium. As the blog post puts it, the new mobile crypto trading app will let users buy and sell cryptocurrency.
Users will also be able to monitor real-time and historical market prices for tokens including the likes of Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Zcash (ZEC) and Bitcoin Cash (BCH).
Users Will Have Access to Their Current Portfolio
The new application will also let users have access to the value of their most recent portfolio, and set the price and percentage of value change alerts accordingly depending on the coins they choose. More functionality offered in this new app is the recurring buy feature and support for the recently launched investment model The Cryptoverse (a basket of digital currencies), measured by market cap to be purchased in a single order.
Bitcoin (BTC) Price Today – BTC / USD
The Winklevoss Twins Remain Bullish on Crypto Despite Market Slump
Speaking to Bloomberg in an interview today, the Winklevoss twins struck a bullish attitude toward crypto despite the crypto market slump in recent months. Tyler stated:
“We are at home in winter.”
While his twin Cameron added that:
“It gives us enough time to build our business internally, and refine as well as catch our breath.”
Cameron contextualized that the new crypto trading mobile app is a bid to get to retail investors:
“Many of our decisions have given off the impression that we are more institutionalized. The reality is that we have a broad and diverse customer base and our retail story is just starting point.”
Additionally, the twins revealed that their goal for 2019 was expanding to the crypto market in Asia, where they will face serious competition from a highly thriving exchange sector that includes Bitfinex, Binance and Huobi. The expansion plans of Gemini have been rumored to include a possible shift to the UK market, according to a September report.
Checkered History With Regulators
The twins, who are stalwarts of the digital asset space, have had a measure of success against regulators over the years. Their successes include recent approval from the NYDFS (NY State Department of Financial Services) to launch their own stablecoin known as the Gemini dollar. The exchange also got insurance coverage for its custodied assets from lending firm Aon. This complements Gemini’s already available FDIC (Federal Deposit Insurance Corporation) coverage for the USD deposits (under the NY State BitLicense framework beginning from 2015).
The twins nevertheless have also faced a high-profile setback. Particularly in July, when they filed an application to launch a Bitcoin ETF (exchange-traded fund) received a second rejection from the Securities and Exchange Commission (SEC).
More recently, the Winklevoss twins have made the news in the crypto space with after they filed a lawsuit against Charlie Shrem the founder of Bitcoin Foundation concerning an alleged theft by Bitcoin (BTC) from six years back. As of press time, the exchange is ranked 51 among the top crypto exchanges based on adjusted trade volumes, with $16.5 million brought in from daily trades.