Winklevoss Brothers Own – Material – Amount of Ether

Winklevoss Brothers Own - Material - Amount of Ether

Tyler and Cameron Winklevoss have exposed that they have personally invested te ether, the digital asset that powers the Ethereum blockchain.

The announcement goes after on the high-heeled slippers of news the Fresh York State Department of Financial Services (NYDFS) said it will permit the brothers to add an Ethereum trading product to their digital currency exchange, Gemini.

Te vraaggesprek, Tyler Winklevoss said he wished to make clear their investment spil part of the disclosure surrounding next week’s launch.

Winklevoss told CoinDesk:

“Wij are invested. Wij own ether.”

Winklevoss said he and his brother began acquiring ether earlier this year. Tho’ they aren’t presently sharing the precies amount they’ve purchased, Winklevoss said it wasgoed a “material” number.

The brothers entrance into the Ethereum market is importante spil ter April 2013 it wasgoed widely reported that they possessed 1% of all bitcoins te circulation. The number wasgoed the estimated to be 108,000 BTC, which at today’s value would be worth about $48.6m.

Early exploration

The digital currency very first came to the brothers’ attention last year spil it rose ter popularity among members of the digital currency community. Then, customers of the Gemini exchange began to ask for the asset to be added spil an option, Winklevoss said.

During their exploration of Ethereum spil an asset class, the brothers were attracted to what Tyler described spil its distinguishing attributes. Namely, that it includes a Turing-complete pc language and that it can be used spil fuel for performing different clever contract-related tasks.

Tho’ Tyler Winklevoss said he and his brother still believe te the value of bitcoin spil an asset class te its own right, thesis distinctions inspired them to make their own investment and open up the exchange to help others do the same.

“Wij looked at the people te both communities and the people putting time into it,” said Tyler Winklevoss, adding:

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“Wij see them spil taking different paths, not cannibalizing each other.”

Market shake-up

But, there’s more at play here than just the addition of a fresh investment instrument.

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At press time, Gemini is presently trading about 811 BTC vanaf day (toughly $360k), a figure that’s below other regulated US competitors itBit and CoinBase, which are trading about Trio,000 BTC and Five,000 BTC, respectively.

Still, Tyler Winklevoss told CoinDesk the company’s trading volumes are te alignment with their expected growth and distinguished his company from some competitors.

He told CoinDesk:

“Wij’re not comparing ourselves to exchanges that have bot out there longer than wij are and wij’re not comparing ourselves to people who are doing business ter other countries or are unregulated.”

Ether trading is scheduled to start on Gemini at 9:30am EST on Monday.

Photo by Noam Galai/Getty Photos for TechCrunch

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The leader te blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a rigorous set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests ter cryptocurrencies and blockchain startups.

3 thoughts on “Winklevoss Brothers Own – Material – Amount of Ether”

  1. Referring to the OP – ETA for Gemini opening, I’m not sure, it’s like the Bitlicense, thesis things seem to haul on forever. I’m hoping it’s announced by the end of 2018.

  2. I don’t indeed know. It’s indeed hard to tell from the lack if practically any news. I think it is priced ter I a degree, or at least may give us another Coinbase Defecto crash event. Bitcoin is too erratic at thesis prices!!!

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