Cameron Winklevoss Gives 3-Day Ultimatum to Barry Silbert, Threatens Lawsuit

• Cameron Winklevoss, the co-founder and president of cryptocurrency exchange Gemini, has given Barry Silbert, the founder and CEO of embattled crypto empire Digital Currency Group (the parent company of bankrupt crypto lender Genesis), a 3-day ultimatum.
• In an open letter dated July 3, Winklevoss criticized Silbert for playing the victim card when DCG’s fraudulent behavior led to over $1.2 billion of Gemini Earn customer assets being trapped in Genesis.
• He threatened to sue Silbert and DCG should they fail to agree to their newly presented offer by 4 pm ET on July 6, 2023.

Background

Cameron Winklevoss is the co-founder and president of cryptocurrency exchange Gemini. Barry Silbert is the founder and CEO of Digital Currency Group (DCG), which is the parent company of bankrupt crypto lender Genesis.

Ultimatum From Cameron Winklevoss

Cameron Winklevoss has issued a 3-day ultimatum to Barry Silbert and DCG in an open letter dated July 3rd. He threatened to sue them should they fail to agree to their newly presented offer by 4 pm ET on July 6th, 2023.

Criticism from Cameron Winklevoss

In his open letter, Winklevoss criticized Silbert for playing the victim card when DCG’s fraudulent behavior led to over $1.2 billion of Gemini Earn customer assets being trapped in Genesis. He also accused him for not addressing misleading statements made to creditors and fostering a culture of lies and deceit now documented in the public record. He said that Silbert offers “no apology” despite causing “stress, anxiety, and pain” for creditors and their families as well as value destruction across the industry at large.

Winklevoss’ Offer

Winklevoss proposed that all users who have suffered losses due to DCG’s mismanagement should be compensated in full immediately via a direct payment from DCG or its affiliates with additional funds going towards legal fees incurred during litigation against them if necessary. Moreover, he suggested that any customers who have been mistreated during this time period are entitled to receive compensation for their damages as well as fairness adjustments based on lost opportunities due to confiscated or frozen funds since December 21st 2020 onwards when Genesis first declared bankruptcy protection proceedings began against it without user consent or prior notice given by either party involved – i..e Gemini or DCG itself respectively .

Conclusion

The outcome remains unclear but one thing is certain: unless both parties settle out-of-court soon before July 6th passes by then there may be costly litigation ahead which could lead even further complications within this already complicated matter between two high profile industry leaders within crypto finance space today!