Winklevoss Twins File Trust Application with NYDFS for Gemini Bitcoin Exchange
On July 21, 2015, Tyler and Cameron Winklevoss, the founders of Winklevoss Capital, filed an application with the New York Department of Financial Services (NYDFS) on behalf of Gemini Trust Company, LLC, which will operate as a New York Limited Liability Trust Company. According to a spokesperson, the Gemini exchange will be open to the general public as....
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Entrepreneurs Cameron and Tyler Winklevoss have filed an application for a limited liability trust company in New York. The filing for Gemini Trust Company, if approved by the New York State Department of Financial Services (NYDFS), would enable the Winklevoss brothers to launch Gemini, their forthcoming bitcoin exchange product first announced in January. The announcement notably follows itBit's May announcement that it received a trust company charter from the NYDFS. Under New York banking law, trust companies are financial institutions that, while unique from banks, are able to take....
Gemini, a New York-based bitcoin exchange being developed by the Winklevoss twins of Facebook-fame, just received approval from the New York Department of Financial Services (NYDFS). Many investors had been waiting with bated breath for this announcement, following the implementation of New York's BitLicense which has posed regulatory challenges for some cryptocurrency startups. The agency granted approval for Gemini's Articles of Organization and its application for exemption from the deposit insurance requirements of Section 32 of the Banking Law, based on the NYDFS Weekly Banking....
The exclusive United States specific bitcoin exchange, Gemini is one step closer to beginning its operations from New York. The company founded by Tyler and Cameron Winklevoss, better known as the Winklevoss Twins has filed the necessary paperwork with the New York State Department of Financial Services. According to Gemini's spokesperson, the Winklevoss twins are said to have completed the formality of filing the trust application with the government so that they can start operating as a trust company. A trust company, according to the definition of the State of New York is a financial....
With a positive gain of around $20 this week, Bitcoin seems to be rebounding, perhaps for a potential break through the $300 barrier once again. The small bump in price is most likely associated with the positive news surrounding Gemini, the Bitcoin exchange in the making brought to you by the Winklevoss twins. If you haven’t heard yet, the Winklevoss twins have taken one step further to making Gemini a public exchange for the average trader. By submitting a New York trust application, which is required if they want to launch their exchange, Gemini is taking all the proper steps to be....
Injecting an additional US$65m into the ecosystem would push the market cap up a bit. That said, it is possible the Winklevoss twins will use a part of their own Bitcoin stash for this project. The SEC has published a document on the Winklevoss Bitcoin Trust, which is set to issue its own shares to investors. The primary objective of this Trust is to hold Bitcoin, and the initiative is sponsored by Digital Asset Services, LLC. The name Winklevoss has been synonymous with Bitcoin for quite some time now. Tyler and Cameron Winklevoss launched their own Bitcoin exchange, called Gemini,....