Cameron Winklevoss shares letter to Barry Silbert with public

Gemini co-founder Cameron Winklevoss has released a public letter on Twitter addressing DCG founder Barry Silbert. The scathing letter calls out Silbert over a $1.675 billion loan he allegedly took from a subsidiary of DCG Origin.

Cameron Winklevoss shared a public letter addressed to Barry Silbert on Twitter. The letter from the Winklevoss speaks on behalf of Produce Creditors and EARN users are asking Barry to return the money allegedly taken from the platform. Digital Currency Group (DCG) is a wholly owned subsidiary of Gemini.

Today is the 47th day since Genesis stopped withdrawals, according to the letter, which states that EARN users and Genesis consumers demand a permanent solution. “This mess is entirely of your own making,” writes Winklevoss, citing Silbert’s alleged irresponsible actions after he allegedly took a loan from Genesis.

“This is money that is owed to Genesis users and other creditors to accrue. You took this money – money from school teachers – to fuel greedy share buybacks, illiquid venture investments, and kamikaze grayscale NAV trades that caused your Enhanced the fee-generating AUM of the Trust…”

Cameron Winklevoss.

The letter clearly states that Gemini and EARN users need their money and has given Silbert time till January 8 to return the amount. With the funds at stake, it is impossible DCG Will meet the deadline issued in the letter. After that fateful date, a legal battle will begin as Genesis attempts to return EARN to users and the platform’s creditors.

Barry Silbert answered The letter states that Digital Currency Group has not borrowed money from Origin as Winklevoss states.

According to Silbert, digital currency group Genesis has always paid its interests on time. Furthermore, Silbert responded by saying the DGC “Outstanding is current on all loans,with the following debt maturity in May 2023. He added that the DGC had already surrendered a proposal on December 29, to which Origin has not responded yet.

Justin Sun reacts to the Genesis and DCG crisis

Tron founder and Chinese crypto entrepreneur Justin Sun reacts to the ongoing conflict between the digital currency group and its subsidiary Genesis Twitter,

He has said that Huobi is deeply concerned about the debt crisis of global crypto exchange Gemini and DCG. Sun has offered to intervene as a third party to help the two warring entities resolve the issue peacefully through “constructive dialogue”.

is the crypto industry yet to heal From the FTX debacle, in which the SBF illegally used depositors’ cash to fund its political agenda, buying luxury apartments in the Bahamas and bailing out troubled crypto institutions. Genesis creditors are bracing for an impact that is likely to begin after January 8.

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