BlocksInform
On January 2, "47 days have passed since Genesis stopped withdrawing," Winklevoss said, cofounder of the Gemini cryptocurrency swap, underlined in Barry Silbert's open letter, Chairman and Chief Executive Officer of the Digital Money Group - which owns Genesis. Winklevoss has continued to make a brutal evaluation of dcg commercial practices.
According to the letter Winklevoss posted on Twitter, Genesis owes Gemini $900 million for funds Gemini lent to it as part of the Gemini Earn program. "Six weeks ago.", we have done everything we can to engage with you in a good faith and collaborative manner in order to reach a consensual resolution for you to pay back the $900 million that you owe,” Winklevoss wrote, adding:
"Whenever we ask you for concrete commitment, you hide behind lawyers, investment advisors and processes."
Winklevoss said DCG owes Genesis money it did not repay, which led to Genesis's failure to pay the Gemini.
Gemini was sued by investors on Dec. 27. the prosecution alleges that Gemini committed fraud and breaches of securities laws because the program of gains was not registered and investors were not able to fully evaluate its risks. Earn ended its payments to investors in November.
DCG did not borrow $1.675 billion from Genesis
DCG has never missed an interest payment to Genesis and is current on all loans outstanding; next loan maturity is May 2023
DCG delivered to Genesis and your advisors a proposal on December 29th and has not received any response
— Barry Silbert (@BarrySilbert) January 2, 2023
Silbert replied to Winklevoss, stating that Genesis has responded to Gemini's proposal and that DCG is not late in making payments to Genesis.
