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Winklevoss-owned crypto firm hit by lawsuit alleging it defrauded investors of $1 billion
Gemini, a cryptocurrency exchange helmed by the infamous Winklevoss twins, just got hit with a lawsuit alleging that it defrauded investors. The suit was brought forth by New York Attorney General Letitia James, the same AG currently prosecuting former president Donald Trump.
Winkelvoss twins' crypto exchange faces lawsuit over $36 million theft (updated)
The Winklevoss twins' crypto exchange, Gemini, is facing a lawsuit accusing it of negligence in a $36 million theft.
The Winklevoss twins are making a movie about the Winklevoss twins
The Winklevoss Twins -- who allegedly came up with the idea for Facebook -- will create a movie on how they made $1 billion from Bitcoin.
Facebook reportedly courting help from Winklevoss twins for its cryptocurrency
As Facebook continues to poke around at the possibility of creating its own digital currency, it's created the possibility for the unlikeliest of reunions. According to the Financial Times, the social networking giant has held talks with the Winklevoss twins to discuss the possibility of using Gemini, a cryptocurrency exchange founded by the brothers, to store and distribute the planned Facebook coin. Engadget reached out to Facebook for additional information but the company declined to comment.
Pay with crypto at Whole Foods, Gamestop and other retailers
It's been difficult to spend cryptocurrencies at retail due to the technical and regulatory headaches associated with it, but that might not be an issue at some stores in the near future. Flexa has launched a payment network and a companion iOS app, Spedn, that should let you spend digital currency at major retailers like Baskin Robbins, Gamestop and Whole Foods. You just bring up a barcode at the register and the merchant scans it in -- if they don't directly accept crypto, the payment network converts your funds into conventional money in real time.
Winklevoss twins claim cryptocurrency guru stole 5,000 bitcoins
The Winkevoss twins are back in the news for their involvement in the cryptocurrency world, but this time they likely wouldn't want to celebrate. The New York Times has learned that the two sued crypto investor and ex-convict Charlie Shrem for allegedly stealing 5,000 bitcoins in 2012 -- no small amount when they'd be worth roughly $32 million today. The Winklevoss Capital Fund sent Shrem $250,000 in 2012 to buy bitcoins on its behalf, but delivered $189,000 worth based on the price at the time. The figure was lost in a larger dispute over an investment in Shrem's BitInstant, but it's clearly more important now.
New York state approves two dollar-based cryptocurrencies
Today, New York approved the first digital currencies that are tied to the US dollar, called "stablecoins." These cryptocurrencies avoid the price volatility of their brethren by being pegged to stable assets. The digital currencies in question, from Gemini Trust Company and Paxos Trust Company, are available to trade on their respective exchanges. It's a good sign that cryptocurrency is maturing.
SEC rejects Winklevoss twins' plan to trade Bitcoin as stock
A plan from the Winklevoss twins that would have allowed stock traders to buy and sell Bitcoin without setting up a personal Bitcoin wallet has been denied by the US Securities and Exchange Commission. In an order handed down on Friday, the commission declared that the unregulated nature of Bitcoin markets would have made the proposed fund too difficult to monitor, and therefore ripe for fraudulent activity.
Winklevoss twins get approval to run their bitcoin exchange
After several months of waiting, the Winklevoss twins (they who claim to have invented Facebook) have the all-clear to run their Gemini bitcoin exchange. New York state's Department of Financial Services has granted a license to Gemini that lets it run as a chartered trust when it launches on October 8th. This doesn't make it a full-on bank, but it'll have the authority to accept deposits, make loans and serve as an agent for the government across 26 states and Washington, DC. All told, this takes bitcoin one step closer to legitimacy -- important when the virtual currency world still tends to be defined by scandals. [Image credit: Noam Galai/Getty Images for TechCrunch]
Winklevoss twins get closer to launching their bitcoin exchange
You may still think of the Winklevoss twins as those guys who claimed to have invented Facebook, but they've just taken a big step toward making their names in the digital currency business. The two have filed a New York trust application necessary for them to launch their Gemini bitcoin exchange. The move won't put Gemini on the same level as a bank if it's approved, but it will let the exchange accept deposits, issue loans and serve as an agent for government institutions.
Winklevoss twins want to make bitcoin legit with US-based exchange
One of the biggest draws of using bitcoin as a method of exchange is the lack of any form of regulation. Unfortunately, that's left the cryptocurrency with a reputation problem, which is why countries like India, China and Russia are trying to shut it down. The Winklevoss twins, however, feel that embracing the warm hand of government regulations may be enough to take bitcoin into the mainstream. That's why the pair are about to launch Gemini, a US-based bitcoin exchange that, crucially, has the backing of both a New York-based bank and is likely to get the blessing of governmental types, too.
Facebook Messenger for Windows is seemingly en route, Like it or not
He's got your personal data, relationship status and those pictures from last night -- now Mr. Zuckerberg is aiming for a share of your desktop, too. Facebook has released a desktop messenger client for Windows 7 that brings you access to the site's chat, ticker feed and notifications without everyone in the office spotting the blue-bar-of-lost-productivity across the top of your browser. It's currently in limited beta, so there's still time to build a rival client -- maybe with some support from the Winklevii?
