Cameron Winklevoss Wants Barry Silbert Ousted From DCG Whose Genesis Subsidiary Locked Out 340,000 Gemini Users From Their Accounts

Cameron Winklevoss Wants Barry Silbert Ousted From DCG Whose Genesis Subsidiary Locked Out 340,000 Gemini Users From Their Accounts

Cryptocurrency & Blockchain

In the latest twist of the Winklevoss Twins / Gemini / Digital Capital Group / Genesis saga. Cameron Winklevoss tweeted for the removal of Barry Silbert from running Digital Capital Group or DCG.

Gemini’s Earn product used DCG’s Genesis subsidiary for their counter party. However, it appears that DCG misrepresented their financial position when the Winklevoss twins and Gemini signed up with them.

Moreover, recently it has come to light that there is nearly $2b of funds owed to Genesis from DCG, a fact that apparently was omitted by DCG when they first partnered with Gemini. Now, Barry Silbert has refuted these claims. However, if you read through his statements, he is essentially saying that in fact DCG does owe nearly $2b to Genesis. But, in a very vague and misleading manner. From this author’s perspective, just Barry Silbert’s explanation to the inter party debts seems ultra shady and might merit removal from his position.

However, now Gemini, once considered the most sophisticated of the Crypto brokers. Now has seen assets shrink from over $30 billion to less than $10 billion due to investor fears.

Gemini’s Cameron Winklevoss Calls for Barry Silbert’s Ouster as CEO of Digital Currency Group (coindesk.com)

Gemini’s Winklevoss Demands Removal of DCG CEO Barry Silbert (msn.com)