Cameron Winklevoss, co-founder of Gemini, has requested that Barry Silbert be fired as CEO of Digital Currency Group immediately because of his claimed involvement in scamming Gemini and Earn users in an open letter to the board.
Genesis Global Capital (Genesis) and its parent business DCG, according to Winklevoss, participated in a campaign of deceitful statements and representations to fool Gemini, Earn users, and other lenders into thinking that DCG had invested $1.2 billion in Genesis when it had not.
"These misrepresentations were a sleight of hand designed to make it appear as if Genesis was solvent,"
said Winklevoss in the letter. The bankrupt hedge firm 3AC obtaining loans from Genesis due to the poor quality of the offered collateral, he said, was evidence of Silbert's avarice.
"For all these reasons, there is no path forward as long as Barry remains CEO at DCG... These lenders deserve a resolution for their recovery and can only be achieved with new management at DCG."
Winklevoss asked the board to quickly fire Silbert and replace him with a new CEO who could address those problems.
Another open letter by Cameron and Tyler Winklevoss that accused DCG and Genesis of engaging in "bad-faith delay tactics" to avoid paying their debts came before this one. Amazingly, the two are owing Gemini users $900 million. Silbert, has denied these allegations.