As it proves true that Cameron and Tyler Winklevoss were betted very large on Bitcoin and in the meantime, it has been reported that they have invested more than $11 million over the cryptocurrency. It is expected that it would be more immense than the Facebook.
Friday, Cameron and Tyler Winklevoss have announced the launch of Gemini, that is to be considered as next-gen Bitcoin Exchange platform. This New York based exchange program will be fully integrated and regulated without any sorts of complaints, this will be fully open to all institutions and also for individuals.
Basically Gemini is a Latin word that means twins, Winklevoss brother organized a team of 14 engineers with innovative minds and others experts in finance as well as security experts including them both. In the meanwhile, they have tied to a relationship with New York State-chartered bank. This assures us that, each and every dollar that you were keeping on Gemini will be eligible for FDIC insurance.
The main thing is that, Gemini yet to get OK from NYSDFS (New York State Department of Financial Services). One of the best known things is that they have sued Mark Zuckerberg for stealing their idea of developing Facebook, and won $65 million in 2008.
The twin brothers predicted that the price of Bitcoin may go high as $40,000 and this made them to launch Gemini for providing a better platform for Bitcoin exchange.
Various Bitcoin Exchanges were shut down due to various technical as well as financial issues, (Bitstamp and Mt. Gox belongs to that category). The price of the Bitcoin was $1000 in late 2013, and it dropped less than $200 in Jan 2015, now it is getting increased to $235.11. The twin brothers are the one, who still believes in the Bitcoin exchange program, and hope they will achieve success in the upcoming years.