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The Winklevoss Twins Are Giving Away 1 Bitcoin After Tron’s Tesla Fail | Cryptocurrency News and Market Update
By CCN: Gemini, the bitcoin exchange founded by Tyler and Cameron Winklevoss, has caught the crypto contest bug. The Winklevoss twins are giving away 1 BTC to the person with the best shot of the Gemini Crypto Bus. The game is sure to strike a chord with people inside and outside of crypto. The bitcoin price is currently hovering at approximately $5,800 and many believe it’s headed to the moon. While the competition hasn’t generated as much traction on Twitter as Tron Founder Justin Sun’s Tesla giveaway, it’s early. Tyler announced the contest this weekend. But it could be that Tron’s botched Tesla giveaway has left a bad taste in the mouths of the crypto world. You can spot the Gemini Crypto Bus in a trio of cities. Tyler stated in the thread: “Right now they are in San Francisco, Chicago, and Washington D.C. Happy hunting!” WINKLEVOSS CONTEST VS. TRON’S TESLA GIVEAWAY Gemini has built a reputation as a “regulated cryptocurrency exchange,” which goes a long way in a market that has been characterized at the Wild West. Even their stablecoin, Gemini Dollar (GUSD), is of the regulated flavor, which should be attractive for institutional investors especially given the controversy surrounding fellow stablecoin Tether (USDT). Still, Justin Sun’s Tesla giveaway isn’t too far in crypto investors’ rearview mirror. The quick recap is that Tron held a random drawing, the winner of which was entitled to a Tesla. After naming a winner, the Tron team realized that there wasn’t enough transparency in the process. They reneged on the promise and selected a new name, leaving the first Tesla winner basically emptyhanded. After backlash from crypto Twitter, Justin Sun eventually decided to give away two Tesla’s instead of one, making good on the early promise. It was a costly mistake for the project, who TRX coin is the 11th biggest cryptocurrency. REPUTATION BUILT ON TRUST Tyler and Cameron Winklevoss have built their reputation on integrity while Justin Sun has been more controversial. The Tron founder is known for shamefully shilling TRX and bashing other blockchain projects, though it’s probably been in good fun. He certainly seems to have learned something from the unfortunate Tesla contest, but the crypto community might need more time. That could ultimately cost Gemini participants in its lucrative game. On the other hand, it could attract people from outside of crypto who suddenly gain an interest in crypto when they hear they can win 1 bitcoin. If you happen to spot the Gemini bus, you might want to capture the image. Gemini’s game ends on May 11 at 4 p.m. ET. Given the squeaky clean reputation of the Winklevoss twins, you probably won’t have to worry about any switcheroos once the winner is announced.