Novogratz and Winklevoss twins support the DOJ investigation

Investor Mike Novogratz who plans to establish a new big crypto bank Galaxy Digital has publicly supported the new investigation initiated by the United States Department of Justice. The sentiment was shared by Cameron Winklevoss, one of the Winklevoss brothers who have close connections to cryptocurrency exchange Gemini and have a vast sum of Bitcoin.

Both entrepreneurs are interested in the further engagement of the cryptocurrency market with the fiat market, and it is much easier to persuade potential partners when you know that the sphere you promote is being regulated just like the market of the interlocutor.

Furthermore, the Winklevoss brothers even had a project of a vast self-regulatory organization which would cooperate with the American authorities - one can speculate they are working towards its establishment at the moment.

As a reminder, the Department of Justice of the United States is now cooperating with the Commodity Futures Trading Commission to find classic schemes of market manipulation connected with Bitcoin and Ethereum prices. One can read more about these schemes in a separate report.

Image: Reuters / Lucas Jackson