The Winklevoss twins lost out on Facebook, and now they've lost out on bitcoin.
The Securities and Exchange Commission on Friday denied an application from brothers Cameron and Tyler Winklevoss — depicted by Armie Hammer in The Social Network — to create an exchange-traded fund for bitcoin.
An ETF would track the price of bitcoin and make investing in the cryptocurrency more attractive to Wall Street. For weeks ahead of the SEC decision, the price of bitcoin soared on the expectation that major Wall Street interest could be ahead. At one point, one bitcoin was worth more than an ounce of gold.
But the SEC dashed those hopes on Friday with one decision. The commission took issue with the way bitcoin trading is regulated, and said it didn't meet their standards for the type of fund the twins were after.
Both brothers have bet big on bitcoin. They created the Winklevoss Bitcoin Trust, and they first applied for approval of a similar product to what was rejected this week four years ago.
“We remain optimistic and committed to bringing COIN to market, and look forward to continuing to work with the SEC staff,” Tyler Winklevoss told the Wall Street Journal. “We began this journey almost four years ago, and are determined to see it through.”
On Friday morning, bitcoin was valued at $1,287.60, according to CoinDesk. After the SEC decision, the price dropped to $1,056. On Saturday afternoon, it was back up to $1,181.
Better luck next time, Winklevii.
TopicsBitcoin
(责任编辑：百科)
Xiaomi accused of copying again, this time by Jawbone
Huawei caught using stock images to promote smartphone's camera
The Emoji Challenge has inspired a fierce group chat competition
Jaunt turns old gas cars into electric vehicles for road adventuresAirbnb activates disaster response site for Louisiana floodingMore than half of women in advertising have faced sexual harassment, report says
If you are a woman in advertising, chances are you've faced workplace sexual harassment at one point
...[详细]AOC obliterates claim that fighting climate change is 'elitist' in stirring speech
Alexandria Ocasio-Cortez's signature Green New Deal may not have gained enough votes in the Senate o
...[详细]Why is Fox News so quiet about Jeanine Pirro's anti
Jeanine Pirro is making trouble for her employer, that much is clear.The host of Justice with Judge
...[详细]We regret to inform you that this brand tweet about St. Louis food is funny
When brands participate in memes, it is generally -- and I can't stress this enough -- the worst thi
...[详细]Tyler, the Creator helped Frank Ocean celebrate 'Blonde' release in a delicious way
The release of Frank Ocean's。 Blonde
。is a cause for celebration to the fans who waited four years fo
...[详细]HTC announces $800 Vive Focus Plus standalone VR headset for $800
Facebook's impressive Oculus Quest standalone VR headset will is getting a serious rival when it lau
...[详细]The viral 'Trashtag Challenge' encourages people to clean up litter
There's a new viral challenge spreading across social media, and it's making the world a cleaner pla
...[详细]Chris Evans may 'cut ties' with Tom Brady over Trump
Chris Evans, Avenger and overall number one Chris, may have to snap his finger and turn his Tom Brad
...[详细]Did our grandparents have the best beauty advice?
Do our grandparents really know what's best?They're older and wiser, and they have no shortage of ad
...[详细]The viral 'Trashtag Challenge' encourages people to clean up litter
There's a new viral challenge spreading across social media, and it's making the world a cleaner pla
...[详细]These glasses hide a fitness tracker on your face
Slack removes more than two dozen accounts tied to hate groups
