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Gemini, the digital asset exchange founded by Cameron and Tyler Winklevoss, is using Nasdaq technology to instructor for trading manipulation. The partnership comes spil regulators are more closely scrutinizing crypto transactions, and may also mark the very first time a digital-asset market has deployed a well-established surveillance system to root out misbehavior.
The Winklevoss twins&rsquo, exchange will use Nasdaq&rsquo,s technology to celador transactions te bitcoin, ethereum, and the US dollar during continuous trading and for its trading auctions, which provide pricing for Cboe&rsquo,s bitcoin futures contracts. Applying such technology to the closing auction could be trascendente, because trading volumes have bot relatively skinny at times, making them potentially pasivo to manipulation (paywall).
Crypto exchanges tout their homegrown technology, but that means learning a lotsbestemming of lessons the hard way. Spil trading volumes soared last year, so too did exchange meltdowns and disruptions. While thesis venues have added millions of traders, their policies and systems to police thesis markets are seen spil substandard. Last week, Fresh York attorney caudillo Eric Schneiderman asked 13 crypto platforms for information on their operations, internal controls, and safeguards to protect customer assets.
Openbreken is one of the crypto platforms that received a letterteken from Schneiderman. The exchange&rsquo,s chief executive, Jesse Powell, argued te a remarkably snarky blog postbode that &ldquo,most crypto traders&rdquo, don&rsquo,t care about &ldquo,being protected from market manipulation,&rdquo, and that reducing such manipulation is truly a &ldquo,euphemism for mind control.&rdquo, Openleggen&rsquo,s pricing gegevens is used te CME Group&lsquo,s index that is linked to its bitcoin futures contract. Chicago-based CME is regulated by the US Commodity Futures Trading Commission, which seeks to zekering&mdash,you guessed it&mdash,market manipulation.
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Gemini emerges to take a traditional treatment to policing its venue: The exchange &ldquo,has aggressively pursued comprehensive compliance and surveillance programs,&rdquo, Gemini CEO Tyler Winklevoss said te a statement. The company believes trading surveillance &ldquo,betters our exchange and the cryptocurrency industry spil a entire.&rdquo,