• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Cryptocurrency Exchange Gemini Joins Nasdaq to Surveil for Market Manipulation

newsbtc by newsbtc
3 years ago
in Bitcoin
Reading Time: 3min read
Nasdaq
Advertisement

Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, will utilize Nasdaq technology to monitor for trading manipulation.

Under the agreement, the exchange will use Nasdaq’s surveillance software, called SMARTS, to monitor its markets for potentially abusive trading practices. The two companies announced the agreement on Wednesday, according to Bloomberg. Financial details have yet to be released.

The partnership comes as U.S. regulators like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CTFC) are more closely scrutinizing the cryptosphere to root out bad actors, and is the first time the cryptocurrency industry has deployed a well-established surveillance system to root out misbehavior, specifically market manipulation.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

“We’re doing this because we believe in the importance of creating a rules-based marketplace,” Cameron Winklevoss, president and co-founder of Gemini, said. “We believe this is where things are headed.”

SMARTS

SMARTS is part of Nasdaq’s market-technology business, in which the New York-based exchange group sells software to other market operators. Although this is the first time it will be applied to crypto, the surveillance technology is already used by equities and derivatives exchanges around the world, including Intercontinental Exchange Inc., Hong Kong Exchanges and Clearing Ltd., and the Nigerian Stock Exchange.

How does it work? Nasdaq’s technology monitors real-time market activity and raises alerts if it detects unusual trading patterns. If flags are raised, further steps are then taken to determine whether the traders behind the patterns broke any rules.

At Gemini, SMARTS will help monitor trading of Bitcoin and Ethereum. It will also surveil the auctions that the exchange holds at 4:00 p.m. ET to determine a daily benchmark price for Bitcoin, which is used to help price Cboe’s futures, according to a statement released today.

Unlike some of its competitors, Gemini appears to be taking a more traditional approach to policing its venue. The exchange ‘has aggressively pursued comprehensive compliance and surveillance programs,’ Gemini CEO and co-founder Tyler Winklevoss said.

The company believes trading surveillance ‘betters our exchange and the cryptocurrency industry as a whole.’

Nasdaq

For Nasdaq, the Gemini partnership isn’t its first foray into the cryptocurrency space. The exchange group has said it is exploring the launch of its own Bitcoin futures. It is also involved in a few other projects that use blockchain, the technology that underpins cryptocurrencies, for the trading of private shares and shareholder voting.

Gemini aside, Nasdaq is also in ‘active discussions’ with a number of other cryptocurrency firms regarding SMARTS, according to Chief Executive Adena Friedman. ‘The crypto space is a nice growth area,’ she said.

In related Nasdaq news today, according to Friedman, once the industry matures the stock exchange is open to becoming a platform for trading cryptocurrencies:

“Certainly Nasdaq would consider becoming a cryptocurrency exchange,” Friedman told CNBC’s Squawk Box today. “I believe that digital currencies will continue to persist it’s just a matter of how long it will take for that space to mature,” she continued. “Once you look at it and say, ‘do we want to provide a regulated market for this?’ Certainly Nasdaq would consider it.”

Image from Shutterstock.
Tags: Adena Friedmanbitcoincryptocurrency exchangeethereumfuturesGeminimarket manipulationNASDAQself regulationSMARTSwinklevoss
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

Saylor Sees Bitcoin Regulation as Greenlight For More Institution Inflows

Saylor Sees Bitcoin Regulation as Greenlight For More Institution Inflows

1 day ago
bitcoin miner btc bullish

Bullish Bitcoin Miners Cease Selling For The First Time Since 2020

1 day ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Bulls Go Ballistic On Twitter’s $1.25bn Convertible Note Offering

2 days ago
Bitcoin Bottoming Out After Its Worst Weekly Drop Since March: Analyst

Bitcoin Bottoming Out After Its Worst Weekly Drop Since March: Analyst

2 days ago
Bitcoin Analyst Explains Why Traders Should Buy Altcoins All March

Bitcoin Analyst Explains Why Traders Should Buy Altcoins All March

5 days ago
Bitcoin Exchange Suffers Massive Outflow as BTC/USD Drops

Bitcoin Exchange Suffers Massive Outflow as BTC/USD Drops

5 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal

March 2, 2021

Easyfi Network introduces Staked Derivative Assets Money Markets on Layer 2 DeFi

March 1, 2021

Seascape Network Officially Debuts on Binance Smart Chain

March 1, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.