Even though they were denied twice by the SEC from listing their bitcoin ETF on a regulated exchange, the Winklevoss twins still feel optimistic about cryptocurrency being embraced by Wall Street.
Tyler Winklevoss, the American entrepreneur and founder of Winklevoss Capital Management, spoke to Bloomberg on the 13th of August about why he believed Wall Street investors were abstaining from adopting cryptocurrencies so far.
“Wall Street is taking cryptocurrencies seriously, however, the vast majority of Wall Street firms are still not participating in the cryptocurrency market, which remains primarily a retail-driven market. This will change over time, but it will take time.”
Gemini cryptocurrency exchange was founded in the year 2014 by the twins and went on to become the world’s first licensed ether and Zcash exchange in the year 2016 and 2018 respectively. Gemini operates in the United States, Canada, United Kingdom, South Korea, Hong Kong and Singapore from its headquarters located in Portland, Oregon.
The Winklevoss twins seem unperturbed by Wall Street’s abstinence from the cryptocurrency space and unabashedly continue in the pursuit to expand their business. In spite of the recently observed bear market, Gemini has continued to spread the reach of its operations and doubled its staff worldwide to total over a hundred and fifty employees. Most notable on the list of employees that Gemini has hired is Robert Cornish who came onboard as its first-ever Chief Technology Officer to lead Gemini’s team and strategy.
The Winklevoss Twins seem to be keeping their eyes on the road ahead for the cryptocurrency market. This has been evident with Gemini’s proposal for a self-regulatory organisation for the U.S virtual currency, as cited in a Medium post by Cameron Winklevoss.