The Winklevoss Brothers: We Hold Large Volumes In Ethereum Alongside Bitcoin
The founding brothers of the Gemini cryptocurrency exchange Cameron and Tyler Winklevoss hold large volumes of their assets not only in Bitcoin, but also in Ethereum. They announced this during an interview with Defiant..
“We definitely have a lot of airtime,” Cameron said. – This is a large, significant amount. Yes, large enough. A couple of years ago, we took targeted measures to buy a lot of ether. “.
The brothers did not disclose the exact amount of their investments in Ethereum, only noting that they are “in the same galaxy” as their investments in Bitcoin.
Speaking about what makes them believe in the future of the second largest cryptocurrency, Cameron pointed to the decentralized finance (DeFi) space – “a new perspective on blockchain, a new type of system that bitcoin paved the way for.” The DeFi space is consistent with their overall vision of the vector of the cryptocurrency industry, he added..
Tyler expects Wall Street’s entry into the DeFi space to intensify the struggle among stablecoin issuers. According to him, the cryptocurrency industry currently does not have some obvious proposal that would allow it to move beyond its own community..
“When Wall Street wants to start investing in decentralized finance, they need currency. Will they pay dividends to investors on the air? Probably, they will not be due to volatility, but will choose stablecoin, “he added..
At the same time, Tyler is confident that many issuers of stablecoins provide their issuance with their own money in order to appear more on the background of competitors, but in the end it will not help to mislead consumers. Gemini is the issuer of the GUSD stablecoin, which currently has a capitalization of only $ 5.5 million.
“It is imperative in the current environment of zero interest rates and sometimes negative interest rates and hyperinflation that you can earn 5%, 6%, whether it be staking or the DeFi money market,” he said, speaking of the benefits of the DeFi space. In the future, Gemini intends to expand support for the storage and exchange of assets, giving users such capabilities..
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