Gemini Co-founder Gives Ultimatum to Digital Currency Group
Gemini co-founder Cameron Winklevoss has issued a final offer to Barry Silbert and his Digital Currency Group (DCG) to start reimbursing Gemini Earn creditors or face a lawsuit. The offer includes forbearance payments and debt tranches totaling over $1 billion. Gemini’s Earn lending and borrowing program collapsed last November, and Winklevoss accuses DCG of fostering a culture of lies and deceit. DCG has until July 6 to accept the proposal or risk serious consequences, including legal action. This ultimatum provides hope for the victims of the crashed Earn product.
Key Points:
– Winklevoss demands DCG to repay Gemini Earn creditors or face a lawsuit.
– The proposal includes forbearance payments and debt tranches totaling over $1 billion.
– Gemini Earn collapsed after the suspension of withdrawals by DCG’s Genesis Global.
– Winklevoss accuses DCG of creating a culture of lies and deceit.
– DCG has until July 6 to accept the proposal or risk legal consequences.
Hot Take:
Cameron Winklevoss’s ultimatum to Digital Currency Group marks a significant step towards justice for the victims of the crashed Gemini Earn program. This open letter shows Winklevoss’s determination to hold DCG accountable for their actions. The proposed offer provides hope for reimbursement and highlights the need for transparency and responsibility within the cryptocurrency industry. It remains to be seen how DCG will respond, but this ultimatum sets a precedent for addressing similar situations in the future.
Continue reading on Crypto.news
By
By
By
By
By