Winklevoss Twins’ Gemini Exchange announces new trading
The Gemini exchange has confirmed that is soon to introduce trading for four new cryptocurrencies.
The platform, owned by the Winklevoss Twins, announced it will begin taking deposits in Zcash from May 19.
The Gemini exchange will later extend trading to Bitcoin Cash, Litecoin, and Ethereum Classic at an undisclosed date.
First fully-licensed exchange to offer Zcash
The Gemini exchange has won full approval from the New York Department of Financial Services to include Zcash.
This will make Gemini the first regulated exchange to offer trading for the anonymous crypto.
Gemini users will be able to buy and sell Zcash from May 22, according to Forbes.
One of the brothers behind the Gemini exchange, Cameron Winklevoss, wrote in a letter that the addition of new digital assets was a close collaboration with the NYDFS, saying:
“Our approval makes Gemini the first licensed Zcash exchange in the world.
“It also makes the NYDFS the first regulatory agency in the world to supervise Zcash.”
Winklevoss also acknowledged Zcash’s privacy features in the letter.
He states that anonymity was one of the reasons for the coin’s appeal.
To achieve such levels of privacy, Zcash uses a combination of shielded and unshielded addresses.
To begin with, the Gemini exchange will accept deposits from both forms of addresses but only unshielded withdrawals will be allowed.
By doing so, the offering will remain compliant with regulations.
Cameron added that the long-term plan is to also offer support for shielded withdrawals, saying:
“We are working to support withdrawals to shielded addresses in the future.”
Aside from adding support for Zcash, Gemini announced that it is including support for Litecoin, Ethereum Classic, and Bitcoin Cash.
Since these new additions are forks of either Ethereum or Bitcoin, from a technical standpoint, integrating them into the platform shouldn’t be too difficult.
The move would also allow them to maintain the level of security the Gemini exchange take pride in.
When describing Bitcoin Cash, Zcash, and Litecoin, Winklevoss refers to them as part of the “Nakamoto Family Tree” due to their Bitcoin code base origins.
Dear Bill Gates
After Bill Gates’ anti-Bitcoin comments during a recent interview, Cameron’s brother Tyler Winklevoss responded to the Microsoft founder on Twitter.
Dear @BillGates there is an easy way to short bitcoin. You can short #XBT, the @CBOE Bitcoin (USD) Futures contract, and put your money where your mouth is! cc @CNBC @WarrenBuffett https://t.co/4JIhF5vWsZ
— Tyler Winklevoss (@tylerwinklevoss) May 7, 2018
In a one-sided “debate” for CNBC’s ‘Squawk Box’ segment, the billionaire spoke alongside Warren Buffett and Charlie Munger about Bitcoin.
During the interview, Gates stated that he would “short Bitcoin” if he could.
Tyler took to Twitter to remind Gates that he could, in fact, bet against Bitcoin by using the Cboe’s Bitcoin futures contracts.
The Futures contacts use Gemini exchange’s price for settlement purposes.