The Winklevoss twins of Facebook fame have been dabbling in Bitcoin-related ventures the past few years with not much progress. Perhaps venturing into the first regulated Bitcoin exchange for customers in the US, will change their luck.
Cameron and Tyler Winklevoss have attracted engineers from big-name hedge funds and based the company in New York City. It currently staffs just over a dozen employees.
Bitcoin has been under attack in the past year in numerous cyber attacks. Notable exchanges like Mt. Gox and Bitstamp have taken a heavy blow.
Gemini says that it will ensure safety and provide a secure Bitcoin exchange for individuals and businesses. It will fully comply with cryptocurrency and consumer protection laws and regulations, by working closely with federal and state governments.
To help ensure that money belonging users stays within the US, Gemini has partnered with a New York State- chartered bank. It is eligible for FDIC insurance.
The year of 2013 saw Bitcoin’s peak value of $1200, but has since dropped to $230.