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Cameron Winklevoss Tells Digital Currency Group To Fire Barry Silbert, Says Fraud Committed Against Gemini Users

The founding father of one of many largest crypto exchanges on the earth is urging Digital Forex Group (DCG) to fireplace its CEO Barry Silbert over points surrounding Genesis.

Final week, Gemini founder Cameron Winklevoss wrote an open letter, posted to social media, blaming DCG founder Silbert for the collapse of the Gemini Earn program.

Underneath the Earn program, Gemini partnered up with crypto lender Genesis to offer merchants with as much as 8% returns on their holdings. Nonetheless, earlier this month Genesis introduced that FTX’s collapse vastly affected its funds and it may now not pay out traders of Gemini’s Earn program. Genesis’s guardian firm is DCG.

In one other open letter posted to Twitter, Winklevoss addresses the board of administrators at DCG.

As in final week’s letter, Winklevoss pins the blame for Genesis’s failures on Silbert.

“In June 2022, the music stopped. 3AC collapsed, laying naked the toxic fruits of this radioactive commerce. As an alternative of stepping as much as remedy this self-created drawback, and regardless of having earned greater than a billion {dollars} in charges — all on the expense of Genesis lenders — Barry refused to take duty. As an alternative, he resorted to committing fraud to guard his ill-gotten beneficial properties.”

Finally, Winklevoss asks the DCG board to fireplace Silbert as a way to preserve some kind of path ahead.

“The Path Ahead. For all the explanations talked about above, there is no such thing as a path ahead so long as Barry Silbert stays CEO of DCG. He has confirmed himself unfit to run DCG and unwilling and unable to discover a decision with collectors that’s each truthful and affordable. In consequence, Gemini, appearing on behalf of 340,000 Earn customers, requests that the Board take away Barry Silbert as CEO, efficient instantly, and set up a brand new CEO, who will proper the wrongs that occurred beneath Barry’s watch.

Genesis lenders, together with Earn customers, have been critically harmed and deserve a decision for the restoration of their belongings. I’m assured that with new administration at DCG, we will all work collectively to attain a optimistic, out-of-court resolution that can present a win-win final result for all, together with DCG shareholders.”

In contrast to final week, Silbert himself has not responded. As an alternative, the DCG Twitter account defended Silbert and their group.

“That is one other determined and unconstructive publicity stunt from [Winklevoss] to deflect blame from himself and Gemini, who’re solely answerable for working Gemini Earn and advertising and marketing this system to its prospects.

We’re preserving all authorized cures in response to those malicious, pretend, and defamatory assaults.

DCG will proceed to interact in productive dialogue with Genesis and its collectors with the objective of arriving at an answer that works for all events.”

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