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Winklevoss Twins Reportedly Willing to Join Facebook’s Libra Association

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August 20, 2019 | 

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Darryn Pollock | 

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According to CNN, Cameron and Tyler Winklevoss, the twins behind fully-regulated cryptocurrency exchange Gemini, and Bitcoin maximalists, are willing to bet bygones be bygones with their rival, Mark Zuckerberg. 

It is alleged that the twins have been in talks with Facebook about joining Libra’s governing body, the Libra Association which started with 28 founding members but has the intentions of expanding to upwards of 100. 

It seems an unlikely partnership given the history of the twins and Facebook’s founder, who was accused of stealing their idea for Facebook back when the three of them were in college. In fact, the twins were awarded $65 million when they sued the Facebook founder for stealing their ConnectU idea to create Facebook in 2004. 

Still, on a purely business level, it would be a great acquisition for both sides as the Winklevoss twins have cemented themselves as cryptocurrency regulations specialists; an area that Facebook is currently lacking after being hit hard by regulatory pressure when announcing Libra. 

More so, the reason that the twins are happy with potentially joining Libra is because the feel the future is cryptocurrency, and Facebook would be a good vehicle to push the mass adoption of cryptocurrencies. 

The future is crypto

The Winklevoss twins seem to have buried the hatchet in terms of their rivalry with Zuckerberg and Facebook; it has even been reported that they used some of their payout from the lawsuit against the social media giant to invest early in Bitcoin.

This could be the reason why they twins are now happy to open conversations with Facebook, as their new ventures, especially their regulatory-sound exchange Gemini, are what they pride themselves on now. 

"Facebook was a dispute, but it didn't really define who we were as people," Tyler Winklevoss  said on the Boss Files podcast. "Gemini's much more of a representation of who we are, what we stand for, what we're interested in."

"I think there is a day in the future where we can't live without crypto, or imagine a world before crypto," Cameron Winklevoss added indicating their long-term view is about realising a crypto future.

A good partnership

The thing that differentiates the Gemini exchange from others is its total adherence and clarity in terms of of cryptocurrency regulations. The Winklevoss twins have been adamant that there is no uncertainty in the way they operate when it comes to the laws. 

On the other side of things, Facebook gave said they want to be fully regulated and compliant, but the are causing many regulators, and even central bankers, to call them out and question how they plan to do so. 

The Winklevoss twins would thus be a huge asset for the social media giant if it does want to ensure Libra is launched, and is legal. More so, the twins may even be seeing this as the first step as they believe that the rest of the so-called FAANG companies won't be far behind. 

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