The U.S. Securities and Exchange Commission’s (SEC) is obviously on the wrong side of history. While the SEC has rejected the proposed Bitcoin ETF for a second time, it’s a forgone conclusion: Winston Churchill once said, “You can always count on the Americans to do the right thing after they have tried everything else.” Cameron and Tyler Winklevoss were right when it came to Facebook and they’re right for keeping their eyes on the Bitcoin prize, despite the hits they’ve taken.
According to a recent article by NEWS BTC, Wall Street is a lot slower to enter the cryptocurrency market than expected. According to an interview the Winklevoss twins did with Bloomberg, “Wall Street is taking cryptocurrencies seriously, however, the vast majority of Wall Street firms are still not participating in the cryptocurrency market, which remains primarily a retail driven market. This will change over time, but it will take time.”
While their Cyrptocurrency Gemini exchange has taken a beating in 2018, “including dwindling trading volume on their Gemini exchange and declining prices for their cryptocurrency holdings,” but they’re still feeling bullish, doubling their “staff to 150 full time employees” with “plans to double it again by the end of the year.” They’re also “hiring industry experts, including Robert Cornish, the previous chief information officer at the New York Stock Exchange,” according to reporter Cole Petersen.