The Winklevoss twins want to make Bitcoin more mainstream with daily auctions

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The Winklevoss twins want to make Bitcoin more mainstream with daily auctions

The Winklevoss twins want to make Bitcoin more mainstream with daily auctions

Gemini Trust Co., the U.S.-based digital-currency exchange founded by entrepreneurs Cameron and Tyler Winklevoss, is introducing a daily Bitcoin auction to facilitate price discovery and larger trades at lower costs.

The auctions, to be held at 4 p.m. New York time every day including holidays and weekends, at first will support just bitcoin-to-U.S. dollar trading, and will eventually expand to more currencies. Auction trades will be eligible for as much as a 0.15 percent rebate on trading fees, Gemini said.

By adding daily auctions starting Wednesday, Gemini is bringing to Bitcoin a feature that’s long been available on exchanges such as the New York Stock Exchange, Nasdaq and Bats Global Markets for other asset classes.* Read more...

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