Cameron Winklevoss: ‘There is no path forward as long as Barry Silbert remains CEO of DCG’

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Cameron Winklevoss, cofounder of the Gemini cryptocurrency swap, wrote a further open letter to the Board of Directors of Groupe de la monnaie numerique, or DCG, saying that CEO Barry Silbert is "incapable" of running the company.

In a Jan 10. letter, Winklevoss claimed Silbert and Genesis Global Capital — a subsidiary of DCG — had defrauded more than 340,000 users who were a part of Gemini’s Earn program. It was a January letter. 2 appeal on Twitter to Silbert directly, in which the Gemini co-founder said Genesis owed Gemini $900 million, accusing the CEO of hiding “behind lawyers, investment bankers, and process.”

From Winklevoss' point of view, Genesis provided Three Arrows Capital with over $2.3 billion in loans, a measure that ended up leaving the crypto company with a $1.2 billion loss when the hedge fund went bankrupt in June 2022. He claimed that Silbert, DCG and Genesis orchestrated a "carefully designed lie campaign" from July 2022 to show that DCG had injected the money into Genesis.

"There is no future while Barry Silbert is still CEO of DCG," said Winklevoss. "He proved unfit to manage dcg and unwilling and incapable of finding a solution with creditors that is both just and reasonable. As a result, Gemini, acting on behalf of 340,000 Earn users, requests that the Board remove Barry Silbert as CEO.”