Cryptocurrencies
Winklevoss Twins Hire Eventus to Detect Crypto Cheats on Gemini
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Gemini Trust Co., the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, chose Eventus Systems Inc. to provide surveillance and anti-market manipulation tools for an asset class that is often rife with illegal trading.
Austin-based Eventus provides similar services for large U.S. crypto exchanges Coinbase and ErisX. While the rules around illegal practices like front-running and wash trades are well-established in traditional markets, crypto so far has been less-regulated. Manipulation is one reason the Securities and Exchange Commission has repeatedly blocked a Bitcoin ETF, and a 2019 study alleged that Bitcoin’s rise above $20,000 in 2017 could have been caused by a lone trader.