Facebook's cryptocurrency trial, Project Libra is in full throttle, as Social Media reaches industry leaders in cryptocurrency. Coincidentally, one of them is owned by Mark Zuckerberg's archivists: Winklevoss Twins.
Apparently, Facebook executives have turned to Gemini and Coinbase Exchange to list their cryptocurrency on their platform.
Ben Mezrich, author of two books at Winklevoss Twins, The Social Network and Bitcoin Billionaires are cabinet parties in the discussion here. According to him, each one affects their success the other. On Facebook's step toward Gemini, he said
"Facebook's idea is to start their own crypt, so who should they reach? Now the twins know more about this than Facebook does, so they are one of those people which [Zuckerberg] must go to enter this world. "
& # 39; GlobalCoin & # 39; want to be another StableCoin?
Moreover, Gemini is one of the most regulated stock exchanges in the United States. Van Eck submitted his ETF application in cooperation with Gemini with the SEC. Gemini offers OTC markets and high volume dealers' remedies. On the other hand, Coinbase is one of the largest and most influential online cryptocurrency exchanges.
Also read: Facebook Coin will act as a "Gateway Drug" for Bitcoin and Cryptocurrency: Spencer Bogart
As expected, cryptocurrency is likely to be linked to the dollar. According to the press release, Facebook has also approached valued decision makers: Jump and DRW, to ensure value is attached to the dollar and easily exchanged.
In addition to these companies, Facebook has also negotiated with the Bank of England and Western Union to build its payment and settlement system at Blockchain.
Nevertheless, the inclusion of cryptocurrency on Exchange as Coinbase would increase the overall volume of transactions on the Cryptocurrency Exchange. Facebook has a large user base of over 2.4 billion people.
This may again benefit Bitcoin and the markets for cryptocurrency as part of the volume that will be pouring into other cryptographic curves, especially Bitcoin. However, it can also increase the potential risk of increased speculation in crypto price prices. According to the press release, the exchanges have refused to comment on the issue for now.
Do you think that inclusion for Facebook in encryption of exchange rates will be good for the markets, or will it adversely affect it? Please share your views with us.
Facebook & # 39; GlobalCoin & # 39; to Attract 2 Billion People to Coinbase and Crypto Exchange
Description  Facebook's cryptocurrency trial, Project Libra is in full throttle, as Social Media reaches industry leaders in cryptocurrency. Randomly one of them is owned by Mark Zuckerberg's archivists: Winklevoss Twins.