According to two people familiar with the matter, Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, is an international cryptocurrency unit is preparing to launch a derivatives exchange.
The November crash of FTX, one of the top international exchanges with a significant market share in derivatives trading, opened the door for more potential competitors looking to fill the gap. Coinbase, the largest US crypto exchange, is also working to expand its overseas operations.
But earlier this week, the CFTC was by far the largest international trader for violating U.S. derivatives trading laws. bitcoin The lawsuit he filed against Binance, an exchange, drew attention to his overseas crypto operations.
In the Binance lawsuit, the CFTC claimed that the exchange, which is not registered to operate in the US, serves US customers and instructs them on workarounds to use the platform.
*Not investment advice.
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