Gemini Associates Writes Again to DCG Founder, Accusing Him of Abusing Mediation Process to Delay Time.
2023-07-04 01:18
Odaily News - Gemini co-founder Cameron Winklevoss has released an open letter to Barry Silbert, the founder and CEO of DCG (Digital Currency Group).
In the letter, Winklevoss states that today marks the 229th day since Genesis halted withdrawals, and the 174th day since their last public letter was published. However, he accuses Silbert of never intending to find a global and negotiated solution with creditors and Earn users since the closure of Genesis.
The letter further alleges that in June and July 2022, both DCG and Genesis deliberately lied to creditors and failed to address the $1.2 billion loss caused by the collapse of Three Arrows Capital. Since November of last year, Winklevoss claims Silbert has been working fervently, not to compensate creditors, but to raise funds to repay the loan and file a lawsuit against the convertible bond in the future. Additionally, Silbert has been accused of abusing the mediation process in an attempt to buy more time.
Earlier in January, Cameron Winklevoss publicly addressed the founder of DCG, accusing him of using dishonest tactics and not cooperating with the progress. Winklevoss demanded Silbert to provide a solution to repay the over $900 million debt and requested a resolution by January 8th. Furthermore, Winklevoss stated that if DCG cannot offer a fair solution, he will immediately file a lawsuit against DCG and its CEO.
In the letter, Winklevoss states that today marks the 229th day since Genesis halted withdrawals, and the 174th day since their last public letter was published. However, he accuses Silbert of never intending to find a global and negotiated solution with creditors and Earn users since the closure of Genesis.
The letter further alleges that in June and July 2022, both DCG and Genesis deliberately lied to creditors and failed to address the $1.2 billion loss caused by the collapse of Three Arrows Capital. Since November of last year, Winklevoss claims Silbert has been working fervently, not to compensate creditors, but to raise funds to repay the loan and file a lawsuit against the convertible bond in the future. Additionally, Silbert has been accused of abusing the mediation process in an attempt to buy more time.
Earlier in January, Cameron Winklevoss publicly addressed the founder of DCG, accusing him of using dishonest tactics and not cooperating with the progress. Winklevoss demanded Silbert to provide a solution to repay the over $900 million debt and requested a resolution by January 8th. Furthermore, Winklevoss stated that if DCG cannot offer a fair solution, he will immediately file a lawsuit against DCG and its CEO.
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