Gemini Co-Founder Cameron Winklevossthreatened to take legal action against Digital Currency Group and its CEO, Barry Silbert.
Winklevoss became involved in a weeks-long public debate with DCG and Silbert over loan repayment. Winklevoss called for Silbert’s removal from DCG, alleging that Silbert had mixed funds among the multiple companies he managed within DCG, and that Gemini had used “malicious distraction tactics” in trying to recall the funds.
Gemini Co-Founder Takes DCG Against
Co-Founder of crypto exchange Gemini Cameron WinklevossCEO of crypto conglomerate Digital Currency Group (DCG), after DCG’s lending unit Genesis filed for bankruptcy protection Barry SilbertHe threatened to sue.
In a tweet late Thursday, Winklevoss said DCG and Silbert will soon take legal action against them if Gemini doesn’t make a “fair offer” to Earn customers. Gemini is Genesis’ largest creditor, with $766 million in receivables.
“We are poised to take direct legal action against Barry, DCG, and others who share responsibility for the scam that harmed over 340,000 Earn users and others deceived by Genesis and its accomplices,” Winklevoss tweeted. Also, “Most importantly, the decision to bankrupt Genesis does not exempt Barry, DCG, and other criminals from accountability.” gave his words.
Genesis Global Holdco LLC, the parent company of troubled crypto lending firm Genesis Global Capital, filed for Chapter 11 bankruptcy protection late Thursday after being hit hard by the collapses of Three Arrows Capital and FTX.