Digital Currency Group (DCG) CEO Barry Silbert has lastly broken his silence following a series of egregious accusations from Gemini founder Cameron Winklevoss.
Silbert mentioned in a new letter to shareholders that the previous 12 months has been the most tough of his existence personally and professionally.
“The bad guys and the repetitive boom have wreaked havoc on our industry, with knock-on effects that extend far and wide. While DCG, its subsidiaries and many of our portfolio companies are not immune to the effects of the current turmoil, it is difficult to question the integrity and good intentions of the company. me after ten years put everything into this company and space with a relentless focus on execution. everything is right.”
Winklevoss blamed DCG founder Silbert for the demise of the Gemini Monetization system.
Under the Earn system, Gemini has partnered with crypto loan company Genesis to give traders up to eight% curiosity on their holdings. However, earlier this month, Genesis announced that the demise of FTX had a main money affect and that it could no longer pay out out traders from the Gemini Earn system. Genesis’ mother or father firm is DCG.
Winklevoss blamed Silbert for Genesis’ failures. He alleges that the CEO cheated and has known as on the board of DCG to fire him from the place of CEO.
DCG’s Twitter account has protect Silbert and their crew, who known as Winklevoss’ claims “defamatory” and “public stunt.”
Silbert mentioned in his letter that DCG Genesis Capital now owes $447.five million, four,550 Bitcoin (BTC) and 14,048 Bitcoin Cash (BCH).
“DCG has not borrowed from Genesis Capital since May 2022, has never missed an interest payment, and currently has all outstanding liabilities.”
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