Gemini Want To Launch Overseas Crypto Derivatives Exchange
The Information reported Wednesday that the US-based cryptocurrency exchange Gemini, founded by Cameron and Tyler Winklevoss, is aiming to start an international cryptocurrency derivatives exchange, citing two individuals familiar with the situation. The exchange would particularly provide perpetual futures, a sort of derivative that is prohibited in the United States for regular traders since it would not have an expiry date.
Nevertheless, international crypto derivatives exchanges have gotten a lot of attention in the days after the Commodities Futures Trading Commission (CFTC) filed a lawsuit against Binance, the world’s biggest crypto exchange, by trading volume. Binance was accused of violating US futures trading regulations and operating unlawfully in the US, according to the regulator. Gemini’s move follows the demise of the multinational crypto exchange FTX, which created greater opportunities for other trading platforms to gain market share in derivatives trading. Coinbase, a cryptocurrency exchange located in the United States, is allegedly considering a similar deployment.
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