Winklevoss twins eye Bitcoin Cash, Litecoin additions to Gemini

Winkelvoss Gemini

In a new report issued by Bloomberg, Cameron and Tyler Winklevoss have revealed their early plans to list new cryptocurrencies on their digital currency exchange Gemini, wherein Bitcoin Cash and Litecoin could be early additions in 2018.

Gemini, one of the most famous cryptocurrency plays launched by Winklevoss twins, already lists both Bitcoin and Ethereum.

In discussion with Bloomberg, Tyler Winklevoss elaborated that Gemini was eyeing possible additions from ‘the Satoshi Nakamoto family tree – Bitcoin Cash, Litecoin”.

Gemini users have been able to withdraw airdropped Bitcoin Cash tokens since October of 2017, though users of the exchange have been unable to purchase or sell coins on the platform.

The move would supplement new futures offerings from Cboe, as the Chicago-based futures exchange leverages Gemini’s pricing data for Bitcoin contracts. The listing of new cryptocurrencies might well provide Cboe with the power to add newer futures contracts in the months and years ahead.

In a previous report issued by Bloomberg, Cboe Chief Operations Officer Chris Concannon quipped that “You look at the entire crypto space and you look at what other products have the liquidity and the notional size, a derivative makes sense.”

Tyler Winklevoss has previously elaborated that Gemini’s agreement with Cboe is ‘scalable’ – and that the deal was structured with the foresight that any arrangement could one day expand to accommodate other offerings besides a Bitcoin price index.

Speaking more broadly on the impact of Cboe’s futures contracts, Tyler Winklevoss elaborated that the contracts had “gotten off to an incredible start” – adding that “In 2018, you’re really going to see institutions and Wall Street really get in, and it’s going to look very different”.

Bitcoin’s price has retreated below the $8500 USD level at the time of writing, while Bitcoin Cash and Litecoin have followed suit at $944 USD and $160 USD, respectively.

Have your say!

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