The excited Twitter handle of Gemini reported the news yesterday. Winklevoss twins- Cameron and Tyler Winklevoss have been mentioned by the Business Insider in the 100 most influential people who are ‘transforming Finance.’ The Twitter announcement read as-
Gemini’s vision runs parallel to the traditional markets in terms of regulations. The company has always inclined towards staying as per the required regulations, and that is why when the crypto industry was at a boom back in 2017, and all the other exchanges were diving straight into the booming industry, Gemini held its horses in order gain the regulatory licenses. The company is the one behind the concept of a self-regulatory organization for crypto exchanges. On the topic of regulations, Tyler Winklevoss has the following to say-
“It is certainly more painful to do things according to regulation and compliance, and it is certainly more expensive. […] One of our values is the long game. We want to have a business tomorrow. And if you don’t play by the rules, if you don’t help shape the rules, then you could wake up the next day and all of a sudden you just don’t have a business.”
When it comes to the future plans of the company, Gemini is planning to release a BTC ETF. It has the potential to push newer possibilities in the crypto market. On the other hand, the company was in the news about upgrading its wallet recently. In its official release, Gemini talked about the support for ‘Segregated Witness (SegWit) and addresses and transaction batching.’ The upgrade was made possible with the help of both online and offline ‘end-to-end integration’ in the signing systems. The company has allowed it for all the addresses that start with bc1 to use it for BTC deposits as well as for withdrawals.
In the official release, the company further added-
“As SegWit’s use, support, and adoption grow, it will help reduce fees, wait times, and network congestion. Critically, SegWit transactions lay the groundwork for more advanced technologies; of which the Lightning network is the most well-known. We believe SegWit will become the standard, and in doing so, will create extensive benefits for all participants on the Bitcoin network.”