In recent hours, Cameron Winklevoss, co-founder of crypto exchange Gemini, has openly lashed out against Barry Silbert, CEO of DGC.
Indeed, Winklevoss wrote an open letter to the board of Digital Currency Group (DCG) claiming that CEO Barry Silbert was unfit to lead the company.
Specifically, Winklevoss argues that no path will be viable as long as Silbert remains CEO of DCG. Moreover, according to the Gemini co-founder’s letter, recursive exchanges between the Grayscale Bitcoin Trust and hedge fund Three Arrows Capital would have inflated assets.
Gemini’s Winklevoss lashes out against DCG: Genesis owes him $900 million
As anticipated, in a letter dated 10 January, Winklevoss alleged that Silbert and Genesis Global Capital, a subsidiary of DCG, had scammed more than 340,000 users who were part of Gemini’s Earn program.
The letter followed a Twitter appeal from 2 January aimed directly at Silbert, in which the Gemini co-founder claimed that Genesis owed the exchange $900 million, accusing the CEO of hiding behind lawyers, investment bankers and lawsuits.
Gemini later informed its users that it had terminated its Earn program as of 8 January.
According to Winklevoss, Genesis loaned more than $2.3 billion to Three Arrows Capital, a move that ultimately left the cryptocurrency company with a $1.2 billion loss once the hedge fund failed in June 2022.
The co-founder of Gemini also claimed that Silbert, DCG and Genesis orchestrated “a carefully crafted…
