Winklevoss Exchange Gemini to Launch Daily Bitcoin Auctions
Gemini Trading, the bitcoin and ethereum exchange founded by Tyler and Cameron Winklevoss, is set to begin hosting daily bitcoin auctions.
While such auctions are commonplace as a way to determine more accurate closing prices for the New York Stock Exchange or Nasdaq, Gemini is positioning the auction as more than a first its exchange.
Tyler Winklevoss told CoinDesk:
“It’s the first ever end-of-day auction on a bitcoin exchange. It’s a pretty standard feature on traditional exchanges that didn’t exist on a bitcoin exchange until now.”
The launch represents the latest effort by the Winklevoss brothers to create investment mechanisms for mainstream investors.
This post was published at Coin Desk on September 21, 2016.