THE WINKLEVOSS TWINS ARE FINE WITH ZUCKERBERG ENTERING THEIR CRYPTO GAME

Facebook’s cryptocurrency announcement has drawn widespread ire from lawmakers—but at least CEO Mark Zuckerberg‘s longtime rivals are happy about the tech giant invading the crypto sphere. Twins Cameron and Tyler Winklevoss spoke out about Facebook’s new cryptocurrency, Libra, for the first time at an event at New York’s 92nd Street Y Tuesday. And the twins have a surprisingly welcoming message for Zuckerberg: “Welcome to the party.”

Per Bloomberg, the Winklevoss twins, whose infamous involvement in the early days of Facebook has given way to a cryptocurrency career as the founders of crypto exchange platform Gemini, are only surprised that Facebook didn’t get into the cryptocurrency game sooner. “What took you so long?” they asked Tuesday. Facebook’s new turn toward cryptocurrency has been “very good for crypto and very good for Bitcoin,” Tyler Vinklevoss said Tuesday, noting that a high-stature company like Facebook “talking about the word ‘crypto’ demystifies it, takes out some fear for some people.” “It might add other fear for different reasons, maybe privacy or whatnot—but the fact that a publicly traded company that’s a huge part of our economy actually is doing something really serious in crypto very much mainstreams it and I think it’s a big win for our space,” Winklevoss continued.

The Winklevii’s Libra praise comes as Facebook’s planned cryptocurrency has come under fire from lawmakers around the world, who fear the repercussions of the powerful influence Libra could wield. The new cryptocurrency, the House Financial Services Committee wrote in a July letter to Facebook, “pose[s] systemic risks that endanger U.S. and global financial stability.” The Federal Reserve became the latest entity to express concern about Libra, as chairman Jerome Powell told the House Financial Services Committee Wednesday that the platform “raises many serious concerns regarding privacy, money laundering, consumer protection and financial stability.”

Source: Vanity Fair

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