The co -founder of Gemini accuses the Digital Currency Group of the wrong presentation and calls for the resignation of the CEO -
The co -founder of Gemini accuses the Digital Currency Group of the wrong presentation and calls for the resignation of the CEO -
Cameron Winklevoss, CEO of Gemini, has published another open letter on Twitter, which is addressed to the board members of the Digital Currency Group (DCG). In the letter, Winklevoss DCG and CEO Barry Silbert accuses of having made bad decisions with the now dissolved crypto hedge fund Arrows Arrows Capital (3AC), and claims that DCG staged a "lying campaign" to fool Gemini and Earn users that everything was fine. Winklevoss demands that the DCG board member Silbert remove from his role as CEO, because Gemini believes that with Silbert there is "no way forward".
The dispute between Gemini and Digital Currency Group continues with another open letter
About a week ago, Bitcoin.com News reported on an open letter from Cameron Winklevoss, co-founder of the Gemini crypto tour, to the CEO of the Digital Currency Group (DCG), Barry Silbert. In the letter, Winklevoss Silbert asked to set up Liquidity problems Gemini and the DCG subsidiary Genesis Global Capital. Winklevoss, the managing director of Gemini, claimed that DCG owl genesis ’loan arm $ 1.675 billion. Silbert emphasized the statements of Winklevoss after the letter was published.
"DCG has not borrowed $ 1.675 billion of Genesis," said Silbert tweeted back then. "DCG has never missed an interest in genesis and is up to date with all outstanding loans; the next loan due date is May 2023." According to Silber's statement, Winklevoss Silbert and DCG continued to ask for measures and set DCG a deadline for the answer by January 8, 2023. It is unclear whether DCG or Silbert have made any attempts to solve the problem with Gemini, but this is open to the DCG board that no agreements were made during this period.
earn update: an open letter to the board of the board of pic.twitter.com/eakufjdzr2
- Cameron Winklevoss (@cameron) Opportunity to the board members of DCG claims Winklevoss, Genesis had lent the now bankrupt crypto hedge fund $ 2.36 billion capital with three arrows (3ac). According to Winklevoss, Genesis remained after the funds were liquidated with a loss of at least $ 1.2 billion. "At this point, Barry Silbert had two legitimate possibilities: to restructure the genesis's loan book (inside or outside the bankruptcy court) or to fill the $ 1.2 billion hole," said Winklevoss. "He didn't do both." The Gemini co-founder claims that DCG and Genesis have actively “made false statements and false representations” in relation to the alleged hole and the financial situation of Genesis.
The open letter from Winklevoss insists:
They did this to tempt the lenders to assume that DCG had caught the massive losses that have suffered genesis through the collapse of Three Arrows Capital (3AC), and to get lender to continue to grant loans from Genesis. By lying they hoped to gain time to dig out of the hole that they had created.
The open letter from the Gemini co-founder met with great response after his publication on Twitter. At the time of writing this article, Silbert, a senior employee at DCG, did not respond to the allegations of Winklevoss, as in the previous week. "It is never a good sign if a CEO writes an open letter to you [Third] party with which you do business at this level", a person commented on the DCG board members. "Good luck for the everyday investors who are affected. Hopefully every highly paid person will take responsibility [and] it is not a finger-to-time competition," added the person.
"Do you know that there are dishes these days? Just submit a lawsuit instead of these stupid letters on Twitter", another person tweeted .
What do you think of the open letter from Gemini-Coo Cameron Winklevoss to the DCG board members? Share your opinion on this topic in the comment area below.
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