Winklevoss twins want secure bitcoin exchange with FDIC support

The Winklevoss twins want to create the "Nasdaq of bitcoin," which would be a federally-insured bitcoin exchange for US consumers.

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In an effort to help take bitcoins mainstream, Cameron and Tyler Winklevoss want to create a regulated bitcoin exchange, a "Nasdaq of bitcoin" that is insured by the FDIC. The current state of bitcoin is relatively unstable, and despite businesses accepting bitcoin payments, hackers have taken interest in finding ways to steal the popular cryptocurrency - not to mention the continued slide in bitcoin value.

Winklevoss twins want secure bitcoin exchange with FDIC support | TweakTown.com

The so-called Gemini exchange would be self-funded by the Winklevoss brothers, as they look to create an infrastructure designed to receive federal support. "Right now we have to build the infrastructure," said Tyler Winklevoss, in a statement published by the New York Times. "You have to walk before you run."

Between Mt. Gox "losing" bitcoins, and bitstamp being hacked with $5 million worth of bitcoins stolen, having a federally-insured offering could help win over potential consumers and investors.

An experienced tech journalist and marketing specialist, Michael joins TweakTown to cover everything from cars & electric vehicles to solar and green energy topics. A former Staff Writer at DailyTech, Michael is now the Cars & Electric Vehicles News Reporter and will contribute news stories on a daily basis. In addition to contributing here, Michael also runs his own tech blog, AlamedaTech.com, while he looks to remain busy in the tech world.

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