Tyler and Cameron Winklevoss, co-founders of the New York-based crypto exchange Gemini, may soon join the Libra Association, the consortium governing the cryptocurrency.
“We’re definitely looking at it in earnest and we’re excited about the project. 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,” Cameron told.
The Libra white paper, unveiled last month, envisions “a competitive network of exchanges buying and selling Libra,” enabling holders to easily convert the coin, backed by a basket of stable government currencies, into local fiat.
So far, only one crypto exchange, Coinbase, has joined the Libra Association, whose ranks also include traditional financial players such as PayPal, Visa and Mastercard and VC firms such as Union Square Ventures and Andreessen Horowitz. (Crypto custodian Xapo is also a member.)
Although U.S. lawmakers have so far given Facebook’s global cryptocurrency project an icy reception, even urging the association to halt development, Libra’s vision of a global currency otherwise aligns with the twins’ goals for their own exchange.