This is BIG: DCG and Genesis the next FTX and Alameda?
DCG and Genesis: The next Crypto War. Cameron Winklevoss has alleged Digital Currency Group (DCG) CEO Barry Silbert.
Which topics should we dive deeper into?
Select what genuinely interests you. Your picks feed directly into our editorial planning.
Crypto news that's actually worth your time.
Weekly. 60 seconds. Carefully curated by our editors: no hype, no promo flood, no spam.
Cameron Winklevoss, who co-founded cryptocurrency exchange Gemini Trust Co with his twin brother, alleged Digital Currency Group (DCG) CEO Barry Silbert on Monday of “dishonest delay tactics” and insisted that he devote to settling $900 million in refuted account holders by January 8.
Cameron Winklevoss has written an open letter to Barry Silbert
In collaboration with DCG’s crypto company Genesis, Gemini provides a crypto lending product named Earn. After the collapse of the massive cryptocurrency exchange FTX in November, Genesis stopped client withdrawals.
Earn Update: An Open Letter to @BarrySilbert pic.twitter.com/kouAviTho4
Now, Gemini co-founder Cameron Winklevoss and DCG CEO Barry Silbert have embroiled in a Twitter rift, with the exchange executive slandering Silbert for participating in “bad faith stall tactics” over proposals to reinstate Genesis withdrawals. Winklevoss claims that Genesis and DCG owe $900 million to Gemini and its customers, and has given Silbert till January 8 to clearly and openly dedicate themself to resolving the matter.
DCG did not borrow $1.675 billion from Genesis
DCG has never missed an interest payment to Genesis and is current on all loans outstanding; next loan maturity is May 2023
DCG delivered to Genesis and your advisors a proposal on December 29th and has not received any response
In response to Winklevoss’ allegations, DCG CEO Barry Silbert stated that the company did not borrow $1.675 billion from Genesis. DCG has never happened to miss an interest payment to Genesis and is on track on all loans; the next loan maturity is in May 2023. DCG conveyed an offer to Genesis and your consultants on December 29th and has yet to receive a reply.
The Winklevoss further said to Barry Silbert to stop pretending that he and DCG are innocent bystanders who had nothing to do with the mess. It’s completely misleading. So, if DCG did not borrow the money, how does it owe Genesis $1.675 billion?
DCG and Genesis: The next Crypto War?
According to Reuters, Genesis said in a letter to customers on December 7 that it was continuing to work to maintain client assets and solidify liquidity, but that it would take “weeks rather than days” to create a strategy.
It is worth noting that a multiple simultaneous class action lawsuit was filed against Gemini in early December by investors Brendan Picha and Max J. Hastings, accusing the exchange participated in the sale of unauthorized securities through its Earn program. In short, the story so far looks like this:
Related articles
Which topics should we dive deeper into?
Select what genuinely interests you. Your picks feed directly into our editorial planning.
Crypto news that's actually worth your time.
Weekly. 60 seconds. Carefully curated by our editors: no hype, no promo flood, no spam.
November 8, 2018 11:23 AM
The Three Easiest Ways To Buy Bitcoin
Buying Bitcoin can be simple and smooth. Users should always remember that they should never expect to make a million dollars overnight.
January 20, 2024 8:03 AM
How to Buy Bitcoin in 2024 with a Card- EASY Guide
As we progress through the year 2024, Bitcoin (BTC) continues to hold a significant position in the digital currency market.
November 1, 2023 6:52 PM
CryptoTicker x Bitpanda: Win €5,000 in Bitcoin, Here’s How!
CryptoTicker and Bitpanda are teaming up to bring you a thrilling opportunity to win €5,000 in Bitcoin. Here's how to participate.
September 27, 2021 2:58 PM
Crypto Basics – Don’t know What Bitcoin crypto is? Here’s a Complete Guide
In this article, we're going back to the basics, and introduce Bitcoin crypto in a very simple and straightforward way.
August 28, 2019 11:40 AM
How to verify cryptocurrency transactions?
This article will take you through the easy but crucial method of validating cryptocurrency transactions in the Blockchain. This is you achieving your complete claims from the technology that allows absolute transparency. Blockchain explorers are tools that allow you to […]
April 24, 2019 9:50 AM
The IMF accidentally makes a case for Crypto
Is it possible to think that the money in your bank account is different from the cash you hold? Well, one of the fundamental ideas of modern banking is that the balance an individual holds in a bank is the […]
July 31, 2022 7:06 PM
Top 3 BEST Ways to Earn Bitcoin in 2022 – ANYONE can do it!
What are the best ways to earn Bitcoin in 2022? In this article, we talk about the 3 best ways to earn Bitcoin easily and safely in 2022.
December 23, 2018 2:41 PM
Facebook finally entering the crypto space
Recently, everyone is trying to get onto the crypto bandwagon, and now its Facebook’s turn. Facebook has not always been that friendly with crypto. This year in January, Facebook banned all crypto related ads fearing it would lead to scamming […]
January 16, 2020 3:33 AM
The Bitcoin Code : Basics
Bitcoin is the most impactful blockchain based cryptocurrency platform of all times. In this article, we will answer the basic questions. What is Bitcoin, how does it work and where to buy it? So, let’s get down to decrypt the […]
October 6, 2019 8:12 AM
How to Buy Bitcoin?
There are several ways one can buy bitcoin. Bitcoin is in the news because of its unpredictable prices, everyone is interested in discovering how to buy and sell Bitcoin. As the most common sort of cryptocurrency Bitcoin is now broadly […]
August 8, 2023 5:46 PM
Is Bitcoin Good to Make Payments? Or is Bitcoin becoming Digital Gold?
Bitcoin's sharp price swings caught the attention of many, leading to the debate about its nature. Is Bitcoin good to make payments?
July 10, 2022 2:03 PM
4 Ways to Invest in Bitcoin WITHOUT Buying Bitcoin!
In this article, we will talk about 4 different ways to invest in Bitcoin. We'll also go over the advantages and benefits of each method.
March 23, 2022 6:58 PM
This COUNTRY is running on Bitcoin – Bitcoin El Salvador Success Story
El Salvador received a lot of criticism when they officially incorporated Bitcoin in their economy. Is Bitcoin El Salvador story a success?
May 14, 2019 5:26 PM
Analysis: Why do so many people hate Bitcoin?
Cryptocurrency is an issue that obviously cannot be neutral. Since the inception of Bitcoin, there are passionate “Bitcoin fans” and passionate “Bitcoin haters”. The interesting thing is, however, that this objection often comes from outsiders who have never traded cryptocurrencies […]
February 26, 2024 7:36 AM
Bitcoin Price Prediction: When will the Bitcoin price surge to $70,000?
Recently, Bitcoin's price has surged dramatically over the past few weeks. Let's take a look at this Bitcoin price prediction article.
January 3, 2023 6:42 PM
Bitcoin turns 14 years old: Happy Birthday Bitcoin! Who’s Celebtrating?
What is a Bitcoin Birthday? Who's celebrating it? In this article, we go over a quick brief on Bitcoin and its start which marks a Bitcoin Birthday.
January 10, 2022 6:05 PM
Paying with Crypto: An Introduction To Litecoin
A guide on how to pay with crypto. Easy step by step tutorial using coinbase and litecoin.
January 10, 2022 6:05 PM
Job offer: Cryptocurrency / Bitcoin Writer
Send us an application today to lucien@cryptoticker.io We want you! You love to talk and write about Cryptocurrencies and Bitcoin? Join our Team! We are looking for freelance Cryptocurrency / Bitcoin Writers. We are looking for writers, that…. … are interested […]
October 19, 2020 9:19 PM
Bitcoin Price Analysis – IS BITCOIN STILL WORTH IT IN 2020?
The leading cryptocurrency has proven its perseverance through years of tough market fluctuations, and the year 2020 was no exception. Bitcoin Price Analysis – A strong start of the year 2020 Bitcoin opened the year with a price of approximately […]
July 23, 2020 2:57 PM
What is Dogecoin?
Dogecoin is one of the best-known cryptocurrencies on the market. Not because of its technical peculiarities but the project was launched as a parody cryptocurrency to counter the hype surrounding Bitcoin and various other new cryptocurrencies with something humorous. It […]
June 30, 2019 4:08 PM
What is Bitcoin Cash?
How many different Bitcoins are there? Many newcomers are always in search of the answer to this question as they delve deeper into the subject matter. And in fact there are some. Forking the mother of all cryptocurrencies was in […]
October 24, 2018 10:59 AM
Will China Proceed Towards Blockchain Innovation with Cryptocurrency Ban?
China has stated it will proceed with Blockchain innovation despite its move to stop and ban all virtual communications related to cryptocurrencies.
February 28, 2018 4:56 AM
Bitcoin Cash Hits Coinbase, Price Increases by $5,400 in 3 Minutes
It was a massive red day for the world’s largest cryptocurrency as the price of the digital currency dropped from $17,249 to $14,212 between 4:18 – 4:38 PM PST, according to Coinbase, the world’s leading cryptocurrency exchange platform. In other […]
December 17, 2017 7:54 PM
How CME’s Bitcoin Futures Will Affect Bitcoin Prices
On the 17th of December 2017, the Chicago Mercantile Exchange & Chicago Board of Trade (CME Group) will be launching their very own Bitcoin Futures contract as they seek to capitalize on the recent surge of the digital currency. CME’s […]
October 31, 2023 7:13 PM
Celebrating 15 Years of Bitcoin: A Revolutionary Journey
Authored by the pseudonym Satoshi Nakamoto, the white paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System.
More from CryptoTicker