Winklevoss Bitcoin Exchange Using Nasdaq Surveillance Software

The Winklevoss Twins’ Gemini (get it?) cryptocurrency exchange is now using the Nasdaq’s SMARTS surveilance software to check for trading anomalies for Bitcoin and Ether in real time.

It will also monitor the auctions that Gemini holds weekdays at 4:00 p.m. ET to determine a daily benchmark price for Bitcoin. These auction prices are used by the Cboe for determining derivative trades.

Once spotted, the site will investigate to determine if there is market manipulation going on.

Other exchanges are not so anxious to cooperate with regulators, with Kraken’s CEO pushing back against questions sent by the New York Attorney General.

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at:
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