In an open letter to the board of Digital Forex Group, Gemini co-founder Cameron Winklevoss has referred to as for the rapid removing of Barry Silbert as CEO resulting from his alleged function in defrauding Gemini and Earn customers.
Winklevoss claims that Genesis International Capital (Genesis) and its father or mother firm DCG engaged in a marketing campaign of false statements and misrepresentations to make Gemini, Earn customers and different lenders consider that DCG had injected $1.2 billion into Genesis – with out truly doing so.
“These misrepresentations have been a sleight of hand designed to make it seem as if Genesis was solvent,” stated Winklevoss within the letter. He went on to accuse Silbert of being motivated by greed, which resulted in failed hedge fund 3AC receiving loans from Genesis, given the low high quality of the collateral posted.
“For all these causes,” stated Winklevoss, “there is no such thing as a path ahead so long as Barry stays CEO at DCG… These lenders deserve a decision for his or her restoration and might solely be achieved with new administration at DCG.”
As such, Winklevoss requested that the board take away Silbert instantly and set up a brand new CEO who can repair these points below his or her watch.
This was preceded by one other open letter written by Cameron and Tyler Winklevoss that accused DCG and Genesis of utilizing “bad-faith stall techniques” with a view to keep away from repaying their money owed. The 2 owe Gemini customers a staggering $900 million. Silbert, one of the vital influential crypto entrepreneurs, has dismissed these accusations.