Gemini co-founder Cameron Winklevoss has accused DCG of deliberately delaying resolving client funds.

(Reuters)

[Financial Channel/Comprehensive Report] Cameron Winklevoss, one of the founders of the cryptocurrency exchange Gemini, accused Digital Currency Group (DCG) CEO Barry Silbert of adopting "malicious delaying tactics" and He was asked to commit to resolving the disputed $900 million (NT$27.5 billion) of client assets by Jan. 8.

"Reuters" reported that Gemini and DCG's encryption company Genesis had cooperated to launch an encrypted lending product called "Earn". After being affected by FTX's bankruptcy, Genesis stopped allowing "Earn" customers to withdraw funds in November. In this way, Gemini, one of the joint and several persons in charge, was also implicated, and was sued for fraud by investors.

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Winklevoss said on Twitter that Genesis owes more than $900 million to about 340,000 "Earn" investors. He has been trying to negotiate with Silbert for the past 6 weeks. However, Silbert has clearly been using "malicious delay tactics."

"We ask that you make a public commitment to work together to resolve this issue by January 8." The article did not explain what would happen if it was not resolved.

Winklevoss also stated that DCG owes Genesis US$1.675 billion (NT$51.3 billion), which is money Genesis owes "Earn" users and other creditors, adding that this mess is entirely of Silbert's own making.

Silbert responded on Twitter that DCG did not borrow $1.675 billion from Genesis.

"DCG has never underpaid Genesis' interest, and all outstanding loans are up-to-date." He added that DCG submitted a proposal to Genesis and Winklevoss consultants last Thursday (29th), but did not receive it. Reply.

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