Tyler Winklevoss, the co-founder of cryptocurrency exchange Gemini, recently announced via Twitter the launch of a new game called “Spot the Gemini Crypto Bus.”
According to Tyler’s tweet, those looking to play the game will have to reply to his post on Twitter with pictures featuring Gemini's “Crypto Bus.” The Twitter account which posts the “best” picture will win 1 Bitcoin (BTC), an amount currently worth about $5,700 according to CryptoCompare data.
Currently, several users have already replied to the tweet with pictures of Gemini's crypto bus. What makes a picture better than another for the context isn't clear, although presumably how well we can see Gemini's logo and slogans should be a factor.
Notably, the Crypto Bus game appears to be related to ad campaign launched in January of this year by the Winklevoss twins (Tyler and Cameron) through their Gemini Trust Company, which operates the US-based digital asset exchange Gemini. The ad campaign has been introduced as part of an initiative which involves developing progressive crypto regulations.
The Winklevoss twins have recommended the development of an updated regulatory framework for cryptoassets. The new framework should serve as a “bridge” between regulations which apply to the traditional financial system and those which are specific to the evolving digital asset and blockchain industry.
The contest, which began on May 4, 2019, is scheduled to end on May 11, 2019 “at 4 PM EST.” Clarifying which types of “buses” will be accepted (when users post their pictures), Tyler said that only “trolleys and trains [will] count.”
“Crypto Without Chaos”
Also referred to as the “Crypto Without Chaos” movement, Gemini’s campaign has seen its supporters showing taxi-stop and subway ads with slogans like “The Revolution Needs Rules,” among others.
Commenting on the initiative, Chris Roan, the Head of Marketing at Gemini, remarked (in January 2019):
We believe that investors coming into cryptocurrency deserve the exact same protections as investors in more traditional markets, adhering to the same standards, practices, regulations and compliance protocols.
Developing Code of Conduct For Cryptoassets Market
In November 2018, prominent billionaire investor Michael Novogratz’ Galaxy Digital (a full-service crypto bank) and several other leading fintech firms formed the Association for Digital Asset Markets (ADAM) - in order to develop a Code of Conduct (“Code”) for the digital asset markets.
At the time, the members of ADAM announced that they were planning to be the first “broad-based organization” in the US to ”proactively seek comprehensive standards” for cryptoasset market participants. The regulatory organization revealed that it would collaborate with experienced regulators to develop “rules for the efficient trading, custody, clearing and settlement of digital assets.”
ADAM’s founding members include itBit, a cryptoasset exchange that provides escrow, custody and OTC trading services; Genesis Global Trading, a leading over-the-counter (OTC) crypto trading service; Paxos, the fintech company that launched the Paxos Standard token (PAX), Symbiont, a smart contracts platform for “institutional applications of blockchain technology,” among others.