Winklevoss Twins and Bitcoin

Bitcoin Garners the Attention of Winklevoss Twins

Bitcoin is still attracting interests from the internet entrepreneurs, Cameron Winklevoss and Tyler Winklevoss, despite a tumble in value, attacks from hackers and legal scandals.
The former Olympic hopeful duo have hired engineers from top hedge funds and are working with regulators and a bank chartered in New York (that's as specific as they would get) to launch a Bitcoin exchange called Gemini as well as an ETF. The twins are convinced that financial expertise and a focus on security and regulation will help them succeed where many, many other Bitcoin exchanges have failed.
Although it's illegal and there have been recent indictments for violations of anti-spoofing laws as of late, one former hedge fund and commodities trader wants to undo the ban. John Arnold, the former CEO of hedge fund Centaurus Energy, writes on Bloomberg View that spoofing keeps high-frequency trading and "front-running" in check in the markets. "Regulators have never described how spoofing harms market integrity or even legitimate traders," Arnold writes. "Instead, they condemn the practice because it involves deception ... and summarily conclude that this deception is de facto harmful, without considering the broader context or its true consequence to the market."

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