Winklevoss Twins

The Winklevoss Twins, Cameron and Tyler, are American investors and entrepreneurs, that founded the Gemini cryptocurrency exchange in 2014.

They’re most famously known for suing Mark Zuckerberg, the creator of Facebook, alleging that Zuckerberg copied their idea and illegally used source code that was meant for their own social media website.

The Winklevoss twins eventually settled the lawsuit for USD $65m.

The twins are also known for investing USD $11m in Bitcoin (BTC) in 2013 when it was priced at around $120.

This foresight and vocal support of the cryptocurrency market, in general, has made them media standouts, often appearing on financial news networks and being quoted online for their viewpoints and perspectives on various crypto-related happenings.

After the start of the Gemini exchange in 2016, the twins used their standing to launch a proposal with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) backed by Bitcoin (BTC).

The proposal was denied.

Related Terms

Gemini

Gemini exchange is a centralized cryptocurrency exchange (CEX) started in 2014 by the Winklevoss Twins, Cameron and Tyler. As of August 2022, Gemini is the 4th largest U.S.-based crypto exchange by volume, with USD $76 million in daily trading volume. Gemini allows you to buy and sell bitcoin (BTC), along with 100+ other digital assets, in all 50 states.

Gemini Dollar (GUSD)

A stablecoin that is FDIC- insured, and backed 1:1 with the US dollar. Gemini Dollar (GUSD) was created by Gemini, a secure and regulated centralized cryptocurrency exchange (CEX).

Bitcoin (BTC)

Bitcoin (BTC) is most well known as a digital decentralized cryptocurrency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries, such as payment gateways or banks or routing services. Think of bitcoin as Internet money, that you can send and receive directly, to and from anyone, and you can use it to pay for stuff.

Securities and Exchange Commission (SEC)

The Security and Exchange Commission (SEC) is a U.S. government agency that’s responsible for regulating the securities markets and protecting investors. Securities include things like capital stock in a company, government and corporate bonds, certificates of deposit (CDs), and loans

Bitcoin ATM (BTM)

A Bitcoin ATM (BTM) is an ATM machine that lets you buy and sell Bitcoin (BTC), transfer Bitcoin (BTC) to someone else, and some even let you sell Bitcoin (BTC) and withdraw cash. Surprise! A Bitcoin ATM is very similar to a traditional bank ATM, in that you can deposit and withdraw fiat money. To […]