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Gemini’s Winklevoss says DCG negotiating in ‘bad faith’ over $900 million of customer assets

Nishit Jogi by Nishit Jogi
January 3, 2023
in News
Reading Time: 1 min read
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Home » News » Gemini’s Winklevoss says DCG negotiating in ‘bad faith’ over $900 million of customer assets

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Cameron Winklevoss, who co-founded cryptocurrency exchange Gemini Trust Co with his twin brother, accused Digital Currency Group (DCG) CEO Barry Silbert of “bad faith stall tactics” on Monday and demanded that he commit to resolving $900 million in disputed customer assets by January 8. In collaboration with DCG’s crypto firm Genesis, Gemini offers a crypto lending product called Earn. Following the collapse of major cryptocurrency exchange FTX in November, Genesis halted customer withdrawals. Winklevoss stated that Genesis owed over $900 million to approximately 340,000 Earn investors and that he had been attempting to reach a “consensual resolution” with Silbert for the past six weeks.

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