Cameron and Tyler Winklevoss, early bitcoin investors and founders of the Gemini crypto exchange, don’t seem to be deterred by the current market slump. In fact, speaking to Bloomberg recently, Tyler Winklevoss said, “We’re totally at home in winter.”
The twins confirmed they are pushing ahead with their firm’s plans, including a new mobile application, the Gemini Mobile App, which released this week on Google Play and the Apple App Store for all users.
The new app allows buying and selling of Gemini-listed cryptocurrencies, displays market prices and portfolio value, and allows users to send and receive cryptocurrency funds. It also has price alerts, recurring buy orders, and basket order functionality. The basket order feature, called “Buy The Cryptoverse™,” lets users buy an index of coins, weighted by market capitalization, in a single order.
Cameron Winklevoss, also Gemini President, said in the press release:
“Cryptocurrency never sleeps so it’s important for us to make it easy for our customers to engage with it wherever they are and whenever they want.”
The twins told Bloomberg that they are used to “skepticism” over cryptocurrencies, but they don’t appear concerned about launching the new mobile application in the middle of “crypto-winter.” Cameron explained:
“It gives us time to build internally, and refine and kind of catch our breath.”
They also revealed that getting users for the application is a priority for 2019, perhaps marking a change from what seems to have been a more institutional investor-focused strategy to date for Gemini. Cameron said:
“The reality of the situation is that we have a diverse customer base. And the retail story is just beginning.”
Expanding into Asia will also be a focus for 2019, with Gemini hoping to compete with the likes of BitMEX and Huobi in the region. The “Winklevii” also stressed they have a “slow and steady” approach for one simple reason: “We think it’s a space that’s here to stay.”
The industry expects a good degree optimism from those as invested, and such early proponents, as the Winklevoss twins.
After launching the Gemini exchange and despite the SEC rejection of the Gemini bitcoin-based ETF application, the pair has been busy building a fully-regulated platform. Gemini uses Nasdaq market surveillance technology to prevent manipulation, offers custody services, and gained the approval and governance of the New York Department of Financial Services. It became the first licensed Zcash exchange in May 2018 and launched its Gemini dollar (GUSD) this September.
Featured Image from Shutterstock. Charts from TradingView.
Last modified: May 20, 2020 1:59 PM UTC