Facebook founder and CEO, Mark Zuckerberg is said to have sent some of his employees to contact his former classmates at Harvard University, Cameron and Tyler Winklevoss, commonly known as the Winklevoss Twins over cryptocurrency issues.
The Winklevoss twins became billionaires after heavily investing in bitcoin. They are also founders of Gemini Exchange (cryptocurrency exchange) that also got approval from the New York regulators approving their launch of the Gemini dollar, a stablecoin backed by the U.S dollar.
The duo had previously engaged Zuckerberg in a court case claiming their ownership in the social media Facebook’s idea. The Winklevoss twins were awarded a $65 million settlement from the lawsuit.
Facebook is said to be on the move to create its own cryptocurrency in order to facilitate its payment through WhatsApp. This currency will allow over 2 billion Facebook users exchange money and buy products on Facebook’s other mediums such as Instagram according to the Financial Times.
The twins said in an appearance in Austin Texas, SXSW that their technology was like’’ digital gold’’. CNBC did however not get a report from the Coinbase even after seeking comment on the same. Gemini, on the other hand, declined to comment the same to Facebook. Ben Mezrich, author of The Social Network told CNBC that Facebook’s Zuckerberg has to reach to the twins since the twins knew more about the crypto issue than he knew.
The Winklevoss Twins bought 200,000 coins for $7 and when bitcoin had reached $10,000 they had $ 2 billion, this is according to Mezrich. The outlook of a Facebook coin hiked the cryptocurrency rate recently.
Barclays in a statement early this year said that Facebook’s cryptocurrency might be $19 billion revenue by 2021 if well placed. Speculations on this matter are highly awaited.
Let us know about your thoughts in the comments section below.