According to a report by The Information, Gemini, the U.S.-based cryptocurrency exchange founded by Cameron and Tyler Winklevoss, plans to launch a global cryptocurrency derivatives exchange.
The platform would offer perpetual futures, a type of derivative prohibited for retail traders in the United States since it has no expiration date, can be traded with substantial leverage, and is therefore considered a high-risk product.
The announcement was made after the FTX cryptocurrency exchange declared bankruptcy in November and amidst the recent lawsuit filed against by the Commodities Futures Trading Commission (CFTC) for violating U.S. derivatives legislation, among other allegations. Due to the departure of FTX and Binance’s regulatory troubles, a substantial market share in international futures trading may become available.
In addition to Gemini’s intentions, it was revealed earlier this month that top U.S. exchange COINBASE (COIN) was planning to build an international platform to offer perpetual futures. The U.S. Securities and Exchange Commission (SEC) has served Coinbase with a Wells Notice, indicating an imminent enforcement action.
Gemini has reached out to trading companies in recent months to serve as market makers for an international operation; sources told The Information.
Nasdaq and Gemini Strengthen Relationship; Will Nasdaq List Coins?
Three weeks ago, Bloomberg reported on a secret meeting that took place in Chicago between Nasdaq and many other companies in the cryptocurrency space. This meeting, among other conversations, were able to end in agreements that could shape the space for years to come. Gemini and Nasdaq Work Side by Side As two different sources that…
In "Crypto News"
Nasdaq Analyses Possibility to Become a Cryptocurrency Exchange
The NASDAQ Stock Market, the famous American Stock exchange, is thinking about opening a cryptocurrency exchange for investors. The second largest exchange in the world by market capitalization could start to operate a crypto exchange in the future. The information has been revealed by Adena Friedman, Nasdaq Inc. CEO while…
In "Crypto News"
Gemini Cryptocurrency Exchange Adds Support to Litecoin Trading Pairs
The famous cryptocurrency exchange Gemini will be adding Litecoin (LTC) trading pairs to its trading platform. The information has been released by Gemini’s Vice President of Engineering, Eric Winer, at the Litecoin Foundation’s First Annual Litecoin Summit. The summit was held on September 14 and 15 in San Francisco. Gemini…
In "Crypto News"
