Winklevoss twins’ advice to Zuckerberg: Work with regulators

As reported by CNBC, “The Winklevoss twins are at it again with more bullishness on crypto currencies.

“Despite Tyler and Cameron Winklevoss’ tumultuous relationship with Facebook, they were positive on the tech giant’s cryptocurrency bet, Libra.

“’Our prediction is every FANG company will have some sort of crypto currency project within the next two years,’ Tyler said.

“When asked what advice they would offer Facebook CEO Mark Zuckerberg as he and his team prepare for next week’s Senate hearing, Tyler said it comes down to cooperating with lawmakers.

“‘Work with regulators,’ he said. ‘Talk with them. You know, we definitely went through the front door, and we tried to educate the regulators and shape the regulation in a thoughtful manner because if you get the regulation wrong it can stifle innovation, but the right regulation allows for innovation to flourish, and we think we have achieved that right balance with New York.’

“Whether the twins, who now run cryptocurrency exchange Gemini, will use Libra is still unclear. ‘We’ll keep evaluating, but at Gemini we ask for permission not forgiveness and that has really been our ethos since day one,’ said Cameron.

“Facebook’s Libra announcement raised questions as to whether it would heighten competition with the Winkelvoss brothers, who have been relentlessly working since 2014 on bringing new crypto products to the market. Some analysts have pointed out that Libra is similar to the Gemini Dollar, a so-called stable coin launched by the twins last year.”

Continue to read the full story, and watch the interview, on CNBC.

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