Bitcoin billionaires, the Winklevoss twins, openly accuse the crypto companies that put Gemini in trouble, of “defrauding thousands of investors.”
Cameron Winklevoss openly blamed Genesis and DCG
Gemini co-founder Cameron Winklevoss has taken a stand against crypto investment firm Genesis and its parent company Digital Currency Group (DCG) for arranging a fraud claim against exchange users. According to Winklevoss’ open letter published on Twitter on January 10, Genesis misrepresented its true financial position to Gemini, resulting in the loss of funds from approximately 340,000 customers.
In the letter, Winklevoss put the blame on DCG CEO Barry Silbert, noting that the board should consider removing the executive before finding a way.
Earn Update: An Open Letter to the Board of @DCGco pic.twitter.com/eakuFjDZR2
— Cameron Winklevoss (@cameron) January 10, 2023
It should be noted that victim customers earn interest by lending their cryptocurrencies through Genesis. As Kriptokoin.com, we have included the details in this article. But after Genesis terminated refunds, citing the effects of the FTX collapse, my clients suspended $900 million in funds in their own account. Winklevoss writes about CEO Barry Silbert:
As long as Barry Silbert remains CEO of DCG, there is no way forward. He proved unfit and unwilling to run DCG and unable to find both a fair and reasonable settlement with creditors.
Bitcoin billionaire seeks immediate dismissal of Barry Silbert
The Gemini founder added that with the new management at DCG, both Gemini and Genesis can find an out-of-court settlement that will result in a win-win situation for all parties involved. Since stopping withdrawals, creditors have sought a solution, and Winklevoss argues that DGC is not bona fide. Along this line, he published his first open letter arguing that Silbert’s involvement in the case was marred by “malicious distraction tactics.”
Therefore, DCG asked its founder to commit to resolving the fiasco by January 8. But Silbert struck out at Gemini, claiming that DCG had shared a proposal to settle the dispute at the end of December, but there was no feedback. Winklevoss is now urging DCG shareholders to fire Barry Silbert as CEO for allegedly defrauding Gemini Earn investors.
Silbert previously reported that Genesis suffered a $1.2 billion loss from the 3AC collapse. But Winklevoss alleges that DCG and Genesis lied to Gemini and its users about $1.2 billion to support DCG’s continued operation of Genesis.
In light of the public lie made to Gemini and its users, Cameron demands the immediate dismissal of DCG’s board of directors, Barry Silbert.
