Crypto figures face off over allegations of outstanding debt.
Jan. 2 “marks 47 days since Genesis halted withdrawals,” Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, pointed out in an open letter to Barry Silbert, CEO of the Digital Currency Group — which owns Genesis. Winklevoss went on to make a blunt appraisal of DCG’s business practices.Gemini lent to it as part of the Gemini Earn program.
“Every time we ask you for tangible engagement, you hide behind lawyers, investment bankers, and process.” Winklevoss claimed DCG owes Genesis money that it has not repaid, leading to the failure of Genesis to pay Gemini.on Dec. 27. The suit alleges that Gemini engaged in fraud and violations of securities laws because the Earn program was not registered and investors were unable to assess its risks fully. Earn stopped paying investors in November.
DCG delivered to Genesis and your advisors a proposal on December 29th and has not received any response
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