News analysis

'GlobalCoin' both a dream and nightmare

Sometimes, even bitter billionaire rivals need each other. Mr Mark Zuckerberg and the Winklevoss twins fell out over the founding of Facebook, but they appear to have buried the hatchet over the blockchain.

According to the Financial Times (FT), Gemini, the crypto exchange founded by the "Winklevii", has held talks with Facebook over the social network's plans to roll out its own cryptocurrency, which would probably be used to make payments and purchases across Mr Zuckerberg's empire.

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A version of this article appeared in the print edition of The Straits Times on May 27, 2019, with the headline ''GlobalCoin' both a dream and nightmare'. Print Edition | Subscribe