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."
Source: WealthManagement.com
