The co-founder of crypto exchange Gemini has accused Digital Currency Group CEO Barry Silbert of “bad faith stall tactics” as their respective companies lock horns over a business disagreement precipitated by FTX’s multi-billion-dollar implosion late last year.
Cameron Winklevoss blasted Silbert in an open letter posted to Twitter, alleging crypto broker Genesis Global Capital and its parent company, DCG, owe Gemini’s clients $900 million. The letter alleges Gemini has awaited word on a repayment agreement for six weeks to no avail.
Silbert responded, tweeting that DCG delivered to Genesis and Gemini’s advisers a proposal on Dec. 29, 2022, and has not had any response.
Winklevoss also accused DCG CEO Barry Silbert of using $1.675 billion in money Winklevoss claimed DCG “owes” Genesis and using it for purposes that helped other DCG ventures instead of repaying creditors.
Silbert responded, tweeting that DCG “did not borrow $1.675 billion from Genesis.” He also said DCG has never missed an interest payment to Genesis and is current on all loans outstanding.
(Reporting by Shikha Singh, Editing by Kapil Rajyaguru)
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