The Winklevoss twins are turning to Nasdaq to keep an eye out for trading manipulation, Quartz reported. Their crypto exchange, Gemini, will use Nasdaq’s tech to monitor transactions during continuous trading, as well as trading auctions. In a statement, Gemini CEO Tyler Winklevoss said that monitoring trades “betters our exchange and the cryptocurrency industry as a whole.”
In other Nasdaq-related news, the company may someday trade cryptocurrencies, CNBC reported. “Certainly Nasdaq would consider becoming a crypto exchange over time,” Nasdaq CEO Adena Friedman told CNBC. “If we do look at it and say, ‘it’s time, people are ready for a more regulated market,’ for something that provides a fair experience for investors.” Still, regulatory issues around cryptocurrency need to be worked out before Nasdaq would start a cryptocurrency exchange.
And U.S. Congressman Patrick McHenry said lawmakers shouldn’t rush to create crypto regulations even though fraud is a major issue for cryptocurrencies, CoinDesk reported. “It’s my fear that Congress and other policymakers get wrapped up in the hype of bitcoin and feel like doing something – anything – is better than nothing,” McHenry said. A rush to regulate could hold back innovation in the blockchain industry, he added.
In China, bitcoin miners have been arrested in two cities for allegedly stealing electricity, CoinDesk reported. Police have reportedly arrested six individuals in Tianjin for mining bitcoin with electricity from the power grid – without paying for it. And, in another case, police arrested two individuals in Wuhan who were also charged for stealing electricity.
And there is apparently a bug in some ERC20 tokens that are based on Ethereum, Bloomberg reported. According to a researcher who posted on Medium, “more than a dozen” tokens are susceptible. The news comes one day after lost money through MyEtherWallet. These stories might be impacting the crypto market, Bloomberg reported, as bitcoin fell below the $9,000 level. The price of bitcoin was $8,907.84 and the price of Ethereum was $619.55 as of 7:21 p.m. on Wednesday (April 25), according to CoinDesk.