Winklevoss Twins Say ‘It’s the Bottom of the First Inning’ for Bitcoin

John Vibes
  • The Winklevoss twins, who have long been vocal advocates of Bitcoin, recently said that "It's the bottom of the first inning," for the cryptocurrency.
  • Last week, one of the Twins suggested that the pair may team up with Facebook in its new "Libra" cryptocurrency project.

Cameron and Tyler Winklevoss have quickly carved out a space for themselves in the blockchain space with their cryptocurrency exchange Gemini, and they see a bright future for the industry.

In a recent panel discussion with “Bitcoin Billionaires” author Ben Mezrich and The Wall Street Journal’s Paul Vigna, the twins said, “We still think it’s the bottom of the first inning,” for Bitcoin.





Winklevoss Twins

When Bitcoin was at it's all time high in 2017, CNBC reported that the combined crypto wealth of the Winklevoss twins was over $1 billion. They have also claimed to own over 1% of the Bitcoin in the world.

The twins are well known outside of the crypto community because they co-founded a website called HarvardConnection, which was later renamed ConnectU.

In 2004, the brothers sued Mark Zuckerberg, claiming that he copied their website and used the model of ConnectU to create Facebook. Ultimately, they received a 65 million settlement from Facebook, and have since become venture capitalists. After their introduction to Bitcoin, the two have been focusing almost entirely on crypto projects.

Facebook Libra

Despite their previous bad blood, the twins could be doing business with Mark Zuckerberg again soon, through Facebook's new "Libra" cryptocurrency project.

According to a report from CoinDesk last week, there is a possibility that the twins will be joining the Libra Association soon. In an interview about the new project, Cameron said, “We’re definitely looking at it in earnest and we’re excited about the project.” Tyler added that:

“Our feeling is, this is the first of many FANG [Facebook, Amazon, Netflix and Google] companies to have a token project. Our prediction is in the next 24 months almost every FANG company will have a coin or be working on some sort of project.”

In another interview last week, the twins said that Libra was “very positive for crypto.” 

Crypto Rating Council Evaluates Three New Cryptocurrencies as Securities

  • The Crypto Rating Council has released securities ratings for IOTA, Basic Attention Token and USDCoin.
  • The CRC, backed by Coinbase, Kraken and other US crypto firms, supports regulation clarity for the industry.

The Crypto Rating Council (CRC) has evaluated IOTA, Brave's Basic Attention Token (BAT) and the USDC stablecoin over whether they should be classified as securities. 

The CRC, backed by Coinbase, Kraken and other exchanges, is a collection of major United States-based crypto firms established in September 2019. The group advocates for and promotes regulation clarity in the industry of cryptocurrency, including analyzing whether or not certain assets should be classified as securities. 

According to an April 2 post, the CRC released rating scores for IOTA, USDC and BAT, in addition to updating its rating for Maker and Polymath. The scale ranks from 1 to 5 with a lower score correlated to few or no characteristics consistent with treatment as a traditional security. 

BAT was given a rating of 2.00, with the council highlighting the coin’s utility as fully open-sourced and supporting the development and use of the Brave Browser. IOTA also scored 2.00, indicating that the currency is unlikely to be viewed as a security.

USDCoin, a stablecoin backed by Coinbase and Circle, was rated 1.00 by the council, consistent with other stable price-pegged coins such as DAI.  

While the CRC’s determinations have no official impact on the opinions of regulators such as the Securities & Exchange Commission (SEC), they do provide some insight to investors on the state of crypto-assets. 

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