The stablecoins seem to have a bright future ahead of them but what do the Winklevoss twins think about it? When will it be time for the stablecoins to shine?
Stablecoins grow strongly to 10 billion
The Stablecoins will shine…
On May 21, The Defiant’s Twitter account, @DefiantNews, published an interview conducted by Camila Russo with the Winklevoss twins, where they talk about cryptomonics and pandemic, as well as stablecoins and the potential of DeFi.
Winklevoss Twins Say Stablecoins Are Still Missing Their „Facebook Moment“
Tyler and Cameron Winklevoss of the Gemini crypto exchange say in an interview with The Defiant the stablecoin race hasn’t started yet.
For those who don’t know them, Tyler and Cameron Winklevoss are the CEO and president of the Gemini crypto exchange, respectively. The twins are also known for the popular legal fight over the origins of Facebook, remember?
The Winklevoss twins have had a rather particular way of getting around in the crypt world. In particular, they have always made it clear that they intend to move forward according to the necessary regulations.
Therefore, their crypto exchange is governed by this ideal and, as an example of this, Gemini is one of the few exchanges operating under BitLicense in New York.
When will the race start according to the Winklevoss twins?
The Winklevoss twins said in the interview that while it is true that the response of governments and central banks to the pandemic has prompted a new wave of crypto adoption, there is still some way to go.
In this sense, during the interview with The Defiant, Tyler Winklevoss established that the real race between the stablecoins will not happen until finally Wall Street is interested in the DeFi space.
In particular, Tyler explained that „when Wall Street wants to start investing in decentralized finance, they will need a currency. When a decentralized Real Estate Investment Trust pays a dividend or a share, will it pay it to investors in Etherum? Probably not because of the volatility, but in one of the stablecoins.
As the twins explain, the value propositions offered by the crypts through staking or DeFi protocols are very valuable in a zero or even negative interest rate environment.
Precisely, seeing this potential, Tyler revealed that Gemini has plans to provide greater support to those crypts that „drive the DeFi revolution.
Winklevoss trusts Bitcoin against Coronavirus
Bitcoin and Ethereum Whales
In addition to reporting his opinion on the stablecoins, an interesting fact revealed in the interview with Camila Russo was his holdings in Ethereum.
If you follow the Winklevoss twins for a while, you’ll know they’re Bitcoin billionaires. It was in 2013 that they decided to invest a significant amount of their fortune in Bitcoin.
In fact, the brothers were one of the first investors who managed to accumulate approximately 0.7% of the total supply of BTC in circulation.
So it’s no surprise that they consider themselves Bitcoin Bitcoin Profit, Bitcoin Evolution, Bitcoin Trader, Bitcoin Code, Bitcoin Era, Bitcoin Billionaire, The News Spy, Bitcoin Revolution, Bitcoin Circuit, Immediate Edge whales. However, they revealed to The Defiant that over the past few years they have also accumulated ETH.
To be precise, the Winklevoss twins stated that their funds in Ethereum are significant. However, they did not reveal the exact size of their investment.
The optimism at Ethereum, which is very much linked to the opinion about the stablecoins, lies in the decentralized finances.