Gemini Exchange Might Join Facebook's Libra Association

Gemini Exchange Might Join Facebook's Libra Association

Just recently, Gemini founders – the Winklevoss twins – admitted that they are about to join the Libra Association, the consortium behind Facebook’s cryptocurrency project Libra.

“We’re definitely looking at it in earnest and we’re excited about the project,” Cameron Winklevoss explained.

Also, they carry a healthy bag of optimism saying that most of the FANG (Facebook, Amazon, Netflix, and Google) companies will have a token project.

“Our feeling is, this is the first of many FANG companies to have a token project. Our prediction is in the next 24 months almost every FANG company will have a coin or be working on some sort of project,” believes Tyler.

As they recently commented, they want to be “frenemies” with Facebook along with Mark Zuckerberg. But in a recent interview with CNBC, they seemed very formal and didn’t even blink an eye when talking about Facebook’s new crypto project or their past relationships, in general. They look like they have swiped this past under the rug and continue to move forward.

Moreover, they recently applied for a broker-dealer license in Financial Industry Regulatory Authority, which would allow them to list digital securities on Gemini.

Thus far, the only crypto exchange in the Libra Association is Coinbase which sits there from the very beginning.

Plans to Go Global

The Winklevoss twins shared plans on expanding to Europe and Asia in the near future. This goes along with Facebook’s plans to go global with the Libra Project. However, in recent news, Facebook confirmed that due to regulatory reasons, they won’t be able to expand their services to India. Also, Russia has commented that they won’t be allowing people to operate with Libra.

Both twins share a very optimistic view of the future. They believe that soon there will be virtual commodities, securities, and so on available either on Gemini and, in general.

“Our marketplace will be virtual commodities, virtual securities, and on and on,” Tyler said. “Pretty much anything that can come onto a blockchain,” they predict.

However, when speaking about Bitcoin, the number one cryptocurrency judging by the market cap, they believe that this asset as such is very underrated.

“If Bitcoin really is Gold 2.0, it has to have a market cap of $7 trillion. I think that market cap is a good measure of adoption and how many people are actually in crypto,” explains Cameron Winklevoss.

We can only imagine the state of the crypto market if Bitcoin reaches the market cap of $7 trillion.