Winklevoss Twins Win Yet Another Crypto Trading Patent – Inwards Bitcoins – News, Price, Events

Winklevoss Twins Win Yet Another Crypto Trading Patent - Inside Bitcoins - News, Price, Events

Famous cryptocurrency twee Tyler and Cameron Winklevoss have successfully registered yet another patent related to crypto investment with the US Patent and Trademark Office.

The fresh patent, which wasgoed announced on the USPTO webstek on June 21, 2018, is related to the creation of exchange-traded products linked to digital assets. BTCManager earlier reported that the Winklevoss twins have racked up a slew of patents related to the Gemini Exchange which they own. It is also te line with their stated ambition to create a Bitcoin exchange-traded fund (ETF).

Route Toward ETF

While the broader purpose of creating an ETF has not fairly materialized for the twee, the patents they have bot granted recently make up a crucial part of the strategy toward building the framework for the ETF.

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Officially awarded on June Nineteen, 2018, to a rock hard called Winklevoss IP LLP, the patent describes a framework for “providing an exchange-traded product holding digital math-based assets.” Both Winklevoss brothers are listed spil inventors on the patent alongside Evan Louis Greebel, Kathleen Hill Moriarty, and Gregory Elias Xethalis.

Te addition to detailing the operational framework of the proposed ETF, the patent lays out the issuance process for shares linked to the ETF. It remains unclear exactly how or when it stands to attain any real-life application for investment purposes.

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The description of the patent ter the notice published by the USPTO reads ter utter:

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“Systems, methods, and program products for providing an exchange traded product holding digital math-based assets are disclosed. Shares based on digital math-based assets may be created using one or more computers by determining share price information based upon quantities of digital math-based assets held by a trust, electronically receiving a request from an authorized participant user device to purchase a quantity of shares, electronically transmitting a quantity of digital math-based assets to one or more destination digital asset accounts for receipt of digital math-based assets from the authorized participant based on the determined share price information and the requested quantity of shares, and electronically issuing shares to the authorized participant.”

Winklevoss Investment Strategy

After achieving fame spil the very first ‘bitcoin billionaires ‘ when their $11 million investment ter bitcoin multiplied te value more than a hundredfold, the flamboyant crypto investment evangelists have continued to make bold predictions of the crypto market, and they also proceed to bet intensely on selected crypto assets.

Recently, their strategy has morphed into more of a “49er” treatment, building and trading ter solutions surrounding the trade of cryptocurrencies. The latest patent names a long list of cryptocurrencies it is designed to work with, indicating that they intend to proceed with this ‘picks and shovels’ mass market treatment, rather than making hefty narrow bets on individual cryptocurrencies. It is also the seventh intellectual property patent related to blockchain and cryptocurrency trading that the brothers have taken out inbetween December 2018 and June 2018.

Interestingly, ter March 2018, the SEC vetoed an effort by the Winklevoss twins to list an ETF tied to Bitcoin, stating that te the rente of protecting investors and the comĂșn public, it could not prove reasonably that the ETF would not facilitate “fraudulent and manipulative practices.”

3 thoughts on “Winklevoss Twins Win Yet Another Crypto Trading Patent – Inwards Bitcoins – News, Price, Events”

  1. China still has mij pretty spooked. My hunch is there will be more bad news out of China before the month is out. On the positive side, it’ll most likely be the only source of downward price pressure for awhile. Elsewhere, wij see enhanced adoption and generally a positive regulatory climate.

  2. Vraaggesprek that wasgoed posted yesterday indicated they are going for a Q1 launch for Gemini. No ETA on the ETF wasgoed mentioned IIRC.

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