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Winklevoss Twins Get Second Rejection from SEC for Bitcoin ETF

Winklevoss Twins Get Second Rejection: Where the Cryptomarket is concerned, talk about establishing an ETF is a big deal right now.

Only on Wednesday, BitWise applied to the SEC to establish an ETF and bull’s and bears across the spectrum have weighed in on the necessity of an ETF for the digital coins.

However today, the SEC rejected the Winklevoss twins second Bitcoin ETF application, citing fraud and manipulation concerns.

The market is taking a tumble, as a result, with Bitcoin (BTC) currently down 3.85%. It is trading around the $7,897 mark at present.

After hitting as high as $8,431 only two days ago, the coin has tumbled over $400 in only 3 hours today.

The Securities and Exchange Commission rejected a second attempt by Gemini exchange founders Cameron and Tyler Winklevoss, to list shares of what would be the first-ever Bitcoin ETF.

It voted the proposal down, 3-1 yesterday.

This is the second time the SEC rejected an application from the twins for the “Winklevoss Bitcoin Trust”. In June, the twins submitted a revised edition of their last year’s inital proposal but it still didn’t cut-the-mustard for the SEC.

The SEC cited that it did not agree with the Winklevoss’s argument that Bitcoin markets are “uniquely resistant to manipulation.”

It also highlighted issues of fraud and investor protection; suggesting that the SEC is on a mission to prevent fraudulent or manipulative acts and practices, and it’s primary concern is to protect investors.

As Bitcoin is traded in an unregulated offshore market, it represents a great concern for the SEC.

>>An ETF for Bitcoin Is Unlikely This Year According to Brian Kelly

“Despite today’s ruling, we look forward to continuing to work with the SEC and remain deeply committed to bringing a regulated bitcoin ETF to market and building the future of money,” Cameron Winklevoss, said regarding the matter.

Third times the charm perhaps?

Featured Image: Deposit Photos/garagestock

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Crypto World Cup Day 20:Brad Garlinghouse vs. Charles Hoskinson

Today kicked off the quarterfinals of the Crypto World Cup and boy was the competition fierce! Many big names have already been eliminated, but who will be next? Let’s find out!

Today’s competitors: Brad Garlinghouse vs. Charles Hoskinson & Cameron Winklevoss vs. Satoshi Nakamoto

Check out the eight finalists that made it to the Quarterfinals!

Check Out the Results and Highlights of Today’s Games 

Match 1: Brad Garlinghouse 0-2 Charles Hoskinson

Charles Hoskinson came onto the pitch with guns blazing this afternoon and blew Garlinghouse out of the water. Hoskinson held the ball for 62% of the match and had a pass accuracy of 80%.

The match held a total of four yellow cards, but no red cards were thrown despite the heat of the competition.

Garlinghouse took a total of 11 shots during the match, but couldn’t sink any into the net. Hoskinson scored the first goal within’ forty minutes of the match and his second goal came in the 61st minute.

Hoskinson will face the winner of today’s second match on July 10th, in the Semi-finals.

Match 2: Cameron Winklevoss 1-2 Satoshi Nakamoto

Cameron Winklevoss is a six-time Crypto World Cup winner and remains the obvious favorite. He received some serious critique from fans and analysts in his last match, for his dramatics on the field.

During today’s match, Winklevoss took 27 shots, and Nakamoto only took nine. Winklevoss held the ball for 59% of the match and made 521 passes.

There were four yellow cards in the match but no red cards. Winklevoss struck first within the 13th minute of the match, but the ‘kicker’ is that he scored in his own goal giving Nakomoto a goal. Nakamoto struck back nearly twenty minutes later with another goal, making it 2-0.

Winklevoss struck back towards the end of the match in the 76th minute. Nakamoto has never won a World Cup and will face Hoskinson in the Semi-Finals on Tuesday.

>> Crypto World Cup Day 19

Featured Image: Canva

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Winklevoss Twins Hire NYSE Executive

Winklevoss twins hire NYSE executive: The Winklevoss twins have turned to an executive from the New York Stock Exchange, hiring Mr. Robert Cornish to oversee Gemini’s use of Smarts. 

Gemini, the Winklevoss’ crypto exchange, has been in action since 2015, and adding Cornish to its team marks another instance of how crypto exchanges are looking to work with traditional financial markets.

Before, it was Coinbase hiring NYSE executives, but now, based on the July 6th announcement, it appears to be the Winklevoss’ turn. 

Winklevoss Twins Hire NYSE Executive 

Today, Gemini announced that Robert Cornish would be joining its team. Cornish, the now-former New York Stock Exchange CTO, will join Gemini management later in July; he had his last day on the job last week. 

Cornish will be in charge of overseeing Smarts, which is a market surveillance technology Gemini is using from Nasdaq. It’s likely Cornish will do this with ease, as he spent most of his time at the New York Stock Exchange overseeing Pillar, an ambitious project. 

Moreover, Cornish will “ensure that Gemini continues to deliver the best platform experience to our customers,” said Tyler Winklevoss.

Elaborating further, Tyler Winklevoss said Cornish will make sure Gemini continues to “set the standards of excellence for the cryptocurrency industry.” 

Crypto Exchanges on the Prowl 

The Winklevoss twins aren’t the only ones to dip into the financial pool. In fact, they are just the latest.

Three days ago, Coinbase – which is Gemini’s rival – hired Peter Elkins from the NYSE to build a market surveillance platform. He’s not the only former NYSE employee working at Coinbase, either. In March, Coinbase hired Emilie Choi and Eric Scro. 

What Else?

Aside from hiring the NYSE executive, what else have the Winklevoss twins been up to? Has Gemini made any more recent announcements?

Definitely! The company has been attending a few conferences, such as the Crypto Evolved conference in June. In addition, Gemini opened Zcash (ZEC) trading on May 22nd. 

The Takeaway

Do you think hiring Cornish was a smart move? Will he accomplish all Tyler Winklevoss hopes for? Or, is it simply a move to get back at rival Coinbase, for hogging all the New York Stock Exchange executives? 

Let us know in the comments below!

>> Stellar (XLM), Cardano (ADA), and Tron (TRX): BIG News

Featured image: Twitter

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Crypto World Cup Quarterfinals | Who Will Move On?

The Crypto World Cup Quarterfinals are finally here!

Well, well, well we have found our final 8!

This year’s knock-out stages were a lot of fun for us watching, not so much for some of our crypto players who suffered devastating defeats (Andreas Antonopoulos anyone? Satoshi Nakamoto’s last-minute winning goal was so incredibly last minute it was hard to comprehend.)

And then there were the penalty shoot-outs — the word “exciting” doesn’t cut it. We had three deciders based on nail-biting penalty shoot-outs: Warren Buffet conceded to Justin Sun, Bill Barhydt to Charlie Lee and Tyler Winklevoss (shocking) to CryptoYoda. 

And while we are on CryptoYoda, let’s look at this closer. Tyler Winklevoss’s defeat to the Crypto World Cup host – can anyone understand this? T. Winklevoss is a kingpin in the world of crypto and to put it in context, the CryptoYoda was mocked by his own people for how poor he was at crypto (well, soccer). But hands up if you’re feeling sheepish now!

Now the host is heading into the quarterfinals and to re-iterate, not even his own people thought he could do it. I love a good underdog so even if the next game doesn’t bode well for him, CryptoYoda can definitely hold his head high and say he did his nation proud.

Our table below will quickly catch you up on who’s left in and who has been booted out:

Crypto World Cup Quarterfinals

Crypto World Cup Quarterfinals

And as we progress to the Crypto World Cup Quarterfinals we can now concisely see the top 8 and how the battle for a place in the semi’s will look:

Crypto World Cup Quarterfinals

July 6th

The quarterfinals will kick off on July 6th. The first semi-finalists will be decided on that day, and the other semi-finalists decided on the 7th. Today let’s analyze the matches of July 6th.

The first game will see Brad Garlinghouse against Charles Hoskinson at 7.00am PT. That same day has Cameron Winklevoss facing Satoshi Nakamoto at 11.00am PT.

Brad Garlinghouse v Charles Hoskinson 

Two very strong foes. There is injury doubt surrounding Garlinghouse after he limped off the pitch following his defeat of John McAfee. It remains to be seen if he will arrive in full-form to this game. Hoskinson, on the other hand, is incredibly strong in the striking position and all fears of injury on his side are now allayed, being described as only a “minor scare.” He will be a formidable foe for Garlinghouse, who cannot afford to miss a beat in this game.

Cameron Winklevoss v Satoshi Nakamoto

Neither side has faced a bigger test than this in this world cup thus far. C. Winklevoss is a six-time Crypto World Cup winner and remains to be an obvious favorite, although his performance this year doesn’t seem reflective of such an achievement. None-the-less here he is against Satoshi, who narrowly scraped into this round thanks to that last minute goal against Andreas Antonopoulos. It’s arguably an even game in terms of stats. I can’t call it.

>> Catch up with the Crypto World Cup Players Here!

Who Will Be Victorious?

We are down to the cream of the crop. I have placed no bets as this year’s tournament has proven to be anybody’s game and I already have a nervous disposition.

I wish all players a good and fair game (and keep the diving to a minimum lads, will you!?).

Here’s to the Crypto World Cup Quarterfinals!

Featured Image: Aljazeera America

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Crypto World Cup Day 14

Day 14 of the Crypto World Cup was a wild one! Roger Ver faced off against Anthony Pompliano in what turned out to be a shocker of a game. Plus, Willy Woo pulls the wool over everyone’s eyes.

Meet the players of this year’s Crypto World Cup.

Check out the results and highlights of today’s games

Match 1: Brian Armstrong 0-3 Willy Woo

The stakes were high today, especially for Willy Woo. Armstrong, having won his last two games, was already guaranteed a spot in the next round, and while there was a strong likelihood that Woo would be moving on as well, a bad game today could have really messed things up for Willy Woo.

But Woo was on fire today! He managed to get in three amazing goals, as Armstrong struggled to hold on. Perhaps Armstrong wasn’t trying too hard since he already knew he’d be moving on, but he certainly wasn’t giving much of a fight against Woo.

Match 2: Anthony Pompliano 2-0 Roger Ver

This could have been the game to end all games – and for Roger Ver, it was. Ver was a favourite going into this year’s Crypto World Cup, considering he won the last competition, but bad luck was on his side this year. Could this be the return of the winner’s curse?

It was a nail-biting game throughout and both Pompliano and Ver fought hard, Ver reallllly pushing for Bitcoin Cash to go through, but he just couldn’t quite make it.

Pompliano, already out of the competition based on his previous poor performance during his last two games, showed us that he’s still got it in him. Pompliano managed an amazing two goals in the last few minutes of the match, ensuring that Ver wouldn’t be getting any measly tie points – and with that, Ver is officially out of the competition!

Match 3: David Schwartz 2-2 Dan Larimer

Schwartz managed the first goal in his game against Larimer, but his victory lap didn’t last long. Larimer soon tied the match 2-2, continuing with today’s tradition of losers giving the other teams a run for their money.

Match 4: Jamie Dimon 0-2 Cameron Winklevoss

Had Cameron Winklevoss lost today, he wouldn’t have made it through, such has been the rocky start to the competition for this favoured crypto rep. But, facing off against Dimon, Winklevoss clearly wasn’t nervous – and he needn’t have been.

Winklevoss came away the winner today and will be advancing to the next round, along with David Schwartz, Brian Armstrong, and Willy Woo.

>> Check out Day 13 of the Crypto World Cup

Featured image: CBS Sports

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