The latest crypto 'cat fight' is on everyone's lips
, economist Nouriel Roubini opined that crypto exchange Gemini and venture firm Digital Currency Group are both “scammy Ponzi cesspools” in light of heightened tensions between the two companies.
As reported by U.Today, Gemini’s Cameron Winklevoss has accused fellow businessman DCG’s Barry Silbert of"bad faith stall tactics" and the intermingling of funds within his conglomerate, asserting that the latter has left $900 million in customer assets needlessly in limbo since FTX's meltdown. Winklevoss claims the $1.675 billion borrowed by DCG from Genesis was used for other business purposes, asking Silbert to commit to finding a solution for Gemini Earn customers.
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Genesis-DCG Loan Leads to Class Action Arbitration Case from Gemini ClientsClaimants allege in a filing that Genesis breached its Master Agreement when it became insolvent in the summer of 2022, while hiding its insolvency from lenders like Gemini.
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Gemini Co-Founder Accuses DCG’s Silbert of 'Bad Faith' Stalling in $900M Locked Funds DisputeGemini co-founder Cameron Winklevoss accused DCG owner Barry Silbert Monday of 'bad faith stall tactics' in their $900 million dispute brought on by the implosion of FTX. Silbert responded that DCG submitted a proposal last week. by LizKNapolitano
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Winklevoss says crypto broker Genesis negotiating in bad faithCameron Winklevoss, who founded crypto exchange Gemini Trust Co with his twin brother, on Monday accused Digital Currency Group (DCG) CEO Barry Silbert of 'bad faith stall tactics' and asked him to commit to resolving $900 million worth of disputed customer assets by Jan. 8.
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