The Winklevoss twins, Cameron, and Tyler known for their legal battle with Mark Zuckerberg over the creation of Facebook, are now setting their sights on London as they consider establishing a second headquarters for their cryptocurrency exchange Gemini.
Frustrated by the increasingly “hostile” regulatory climate in the US, the Winklevoss billionaire brothers are seeking a more favorable environment to expand their crypto empire.
Their recent meetings with officials from the Financial Conduct Authority (FCA) and the Bank of England indicate their serious intent to make London a hub for their crypto ventures.
Seeking New Home Amid Regulatory Headwinds
The Winklevoss twins are not alone in their concerns about the challenging regulatory landscape faced by US crypto companies. Following the collapse of FTX, the bankrupt exchange helmed by Sam Bankman-Fried, industry leaders are voicing their discontent with the stifling regulatory environment.
Cameron Winklevoss expressed the difficulties of operating in the US, stating:
There are so many headwinds right now in the US, it’s hard to get anything done there. And so, in order to keep building our business and invest in hiring, we have to look elsewhere.
Recognizing the UK’s reputation as a crypto-friendly jurisdiction, the Winklevoss twins are considering London as a second home for Gemini.
As pioneers in the space, Gemini was among the first crypto companies a
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Author: Edyme
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