Yugocean
Valued Contributor
Gemini crypto exchange co-founder Cameron Winklevoss' feud with Digital Currency Group (DCG) CEO Barry Silbert is heating up, but no one is taking the feud beyond social media.
Genesis Matter heated up
The investment firm Genesis is a subsidiary of DCG. Gemini Earn used to stake its investors' money with Genesis, and Genesis is in economic crisis after FTX went bankrupt. Genesis paused all withdrawals, which locked the assets. Genesis owes Gemini about $900 million.
Seriousness of the Debate
The Winklevoss wrote a letter on social media a few days ago urging DCG CEO Barry Silbert to solve the problem with Gemini investors, but Silbert refused to take responsibility for the Genesis problem. In that letter, Winklevoss had given time until January 8, and now he has once again written another open letter; this time, Winklevoss is holding the Digital Currency Group (DCG) responsible for the failure of Genesis.
Where will despute lead to?
Although the dispute is currently limited to social media, it is possible that the matter will reach the court. It is unlikely that the Winklevoss brothers will give up on Silbert, but, the subject is crypto assets, so steps have to be taken keeping in mind the current events.
Genesis Matter heated up
The investment firm Genesis is a subsidiary of DCG. Gemini Earn used to stake its investors' money with Genesis, and Genesis is in economic crisis after FTX went bankrupt. Genesis paused all withdrawals, which locked the assets. Genesis owes Gemini about $900 million.
Seriousness of the Debate
The Winklevoss wrote a letter on social media a few days ago urging DCG CEO Barry Silbert to solve the problem with Gemini investors, but Silbert refused to take responsibility for the Genesis problem. In that letter, Winklevoss had given time until January 8, and now he has once again written another open letter; this time, Winklevoss is holding the Digital Currency Group (DCG) responsible for the failure of Genesis.
Where will despute lead to?
Although the dispute is currently limited to social media, it is possible that the matter will reach the court. It is unlikely that the Winklevoss brothers will give up on Silbert, but, the subject is crypto assets, so steps have to be taken keeping in mind the current events.
