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In an open letter, Cameron Winklevoss accuses Digital Currency Group CEO Barry Silbert of engaging in “bad faith stall tactics” after Genesis halted withdrawals

Founder and CEO of Digital Currency Group Vignesh Karunanidhi / Watcher Guru : Cameron Winklevoss Accuses Barry Silbert of “Bad Faith Stall Tactics” Walter O'Leary / LinkedIn : Walter O'Leary on LinkedIn: Gemini's Cameron Winklevoss Slams Crypto Exec Barry Silbert Over Frozen... The Daily Hodl : Cameron Winklevoss Demands Answers From Crypto Titan Barry Silbert Regarding Genesis Withdrawal Halt Reuters : Winklevoss says crypto broker Genesis negotiating in bad faith Web3 is Going Just Great : Gemini founder writes open letter to Barry Silbert begging for the return of $900 million Adam Robertson / crypto.news : Cameron Winklevoss shares letter to Barry Silbert with public Trustnodes : Winklevoss Give Barry Silbert 8th of January Deadline Msmash / Slashdot : Gemini's Cameron Winklevoss Slams Crypto Exec Barry Silbert Over Frozen Funds Derek Andersen / Cointelegraph : Cameron Winklevoss pens open letter to Barry Silbert about Gemini's blocked funds Tweets: Barry Silbert / @barrysilbert : @cameron 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 Cameron Winklevoss / @cameron : Earn Update: An Open Letter to @BarrySilbert https://twitter.com/... @zhusu : Here's rough summary of dcg situation 1) they conspired w FTX to attack Luna and steth and made a fair bit doing so 2) they took substantial losses in the summer from our bankruptcy as well as Babel, and other firms involved in gbtc 3) they could've calmly restructured then @zhusu : 7) dcg value is 0, criminal fraud, ftx creditors also have case for fraudulent conveyance on Alameda returns of capital to Genesis 8) most OGs are well aware of how close Barry and SBF were since beginning (SBF is on board of genesis, they gave him his first ftt backed loan) Cameron Winklevoss / @cameron : @BarrySilbert There you go again. Stop trying to pretend that you and DCG are innocent bystanders and had nothing to do with creating this mess. It's completely disingenuous. So how does DCG owe Genesis $1.675 billion if it didn't borrow the money? Oh right, that promissory note... Cameron Winklevoss / @cameron : @BarrySilbert Will you, or will you not, commit to solving this by January 8th in a manner that treats the $1.1 billion promissory note as $1.1 billion? Ed Zitron / @edzitron : To explain what happened here: Gemini offered Gemini Earn, a magical thing that gave you up to 7.4% returns - unrealistic returns - and did so by lending the $900m in Gemini Earn to Genesis/DCG, who have now lost that money. The money is gone! Woosh! https://twitter.com/... @mikeburgersburg : DCG didn't borrow $1.675 billion from Genesis, but DCG owes Genesis $1.675 billion. DCG borrowed $575 million of Genesis customers' funds to buy back your own stock and keep Grayscale afloat. This tweet will be used against you. Don't go the SBF route, Barry! https://twitter.com/... Wu Blockchain / @wublockchain : Gemini founder Cameron Winklevoss issued an open letter to DCG founder Barry, pointing out that today is the 47th day since Genesis stopped withdrawals of 340,000 EARN users, with 900 million US dollars, asking Barry to make a public commitment to address this issue by January 8. Dan Darkpill / @dandarkpill : I don't even know what Earn is. What is it? You send your money to Barry Silbert and he pretends he's a proof of stake algorithm? @tier10k : So uh what happens after Jan 8th if Barry doesn't fix things...? @tier10k : [DB] Winklevoss Say Genesis Engaging in “Bad Faith Stall Tactics” Kyle Davies / @kyleldavies : So how is Barry's intercompany promissory note any different than FTX's backdoor to Alameda? @basedkarbon : Dear Barry, I wrote you but you still ain't calling. I left my cell, email and telegram at the bottom. I sent $900,000,000 back in autumn you must not a got 'em, there probably was a problem with your subsidiary or something. https://twitter.com/... @ramahluwalia : 1/ Letter from @cameron to @BarrySilbert. “After six weeks, your behavior is not only completely unacceptable, it is unconscionable”. It's a a game of chicken now. Any 3 Earn creditors can coordinate on an Involuntary Petition for Ch 11. Rapid analysis thread...🧵 https://twitter.com/... Andrew / @ap_abacus : As predicted, this is now a Cameron/Tyler versus Barry - Gemini versus DCG/Genesis legal battle. **lines have been drawn, lawyers on the ready, and a January 8 deadline has been given. https://twitter.com/... Adam Cochran / @adamscochran : Holy shit Gemini is now publicly calling out Barry/DCG, saying total owed is nearly $1.7B and that Barry hasn't been cooperating on a resolution. Way worse than I thought for DCG... https://twitter.com/... @rj_valair : One thing to mess up yourself but the deepest circle of hell is for those who, after failing, make it their sole purpose to bring everyone down with them way to go buddy https://twitter.com/... Kyle Davies / @kyleldavies : SBF can try to argue he was a child playing in an unregulated offshore sandbox. But Barry was a full grown man who architected the entire highly regulated lending daisy chain from his left to right pocket. It's going to get messy af. @thecryptojourno : Here's a rough summary of 3AC situation: 1) @zhusu & @KyleLDavies still owe creditors $3.5 billion. 2) that's it. the end. https://twitter.com/... @autismcapital : DCG is turbo screwed. Barry Silbert is trying to sequester Genesis as its own problem to avoid personal responsibility but everything is commingled beyond belief. Gemini also looking turborito boned as they're facing a huge class action and want to rip Barry alive. Happy 2023!🍿 https://twitter.com/... @autismcapital : Winklevoss' and Barry Silbert going at it. Winklevoss' want an answer for how to move forward for their Gemini Esrn customers (that used Genesis for their program) but Barry is hiding behind technicality, legal jargon, and probably a sandwich. DCG is turbo cooked, Barry, face it. https://twitter.com/... @ashcryptoreal : Users deposited money into Gemini earn to earn yield. Then Gemini earn lent user funds to genesis trading. Then genesis lent money to DCG Then DCG lent money to grayscale Then grayscale bought BTC top from all the whales at $40k - $50k - $60k @iamdcinvestor : if i had Wink-level money, i'd just pay out of pocket and make the Gemini users whole right now and hope legal battles can get some money back from Barry/DCG because the Winks will lose many times that amount in lost Gemini equity due to brand damage if they do not @autismcapital : That feeling when Coindesk has to cover the fall of their owner to maintain journalistic integrity in the hopes they can be sold. @bowtiednightowl : Resorting to a public letter makes it seem to me like Gemini has no real negotiating leverage to get Barry to the table in a meaningful way. https://twitter.com/... Ed Zitron / @edzitron : @cameron @BarrySilbert Hey Cameron. how about you take responsibility for putting user funds in Genesis. both of you are wrong Lawrence McDonald / @convertbond : Blows my mind that highly intelligent people enter financial transactions with mountains of liquidity and counterparty risks and then whine about the inevitable outcome on a public forum. Toxic mess. https://twitter.com/... @tier10k : So Gemini gave the money to Barry (Genesis), who then gave the money to Barry (DCG), who then gave the money to Barry (Grayscale)? Aaron Levie / @levie : The sequel to the Social Network is going to be substantially weirder. https://www.bloomberg.com/... Edward Snowden / @snowden : *sigh* gonna be a big week https://twitter.com/... Patrick McKenzie / @patio11 : As I've been hinting (and more-than-hinting), crypto has been attempting to ignore a very inconvenient fact about some systemically important institutions. Here's some of the quiet part getting said out loud. https://twitter.com/... @mikeburgersburg : “You took this money - the money of schoolteachers - to fuel greedy share buybacks, illiquid venture investments, and kamikaze Grayscale NAV trades that ballooned the fee-generating AUM of your Trust; all at the expense of creditors and all for your own personal gain.” https://twitter.com/... @sell9000 : Alameda did not borrow $10 billion from FTX Alameda has never missed an interest payment to FTX and is current on all loans outstanding Yada yada yada https://twitter.com/... @koeppelmann : This is an SBF style answer. Likely technically true but totally misses the core point and thus not in good faith. https://twitter.com/... Aaron Levie / @levie : Really should've stuck to only not founding Facebook. https://twitter.com/... Natalie Brunell / @natbrunell : If you're a $GBTC customer, you should be aware of this Open Letter from Cameron Winklevoss to DCG CEO Barry Silbert. Resharing my interview with @samcallah for background on what happened with DCG, Genesis and Grayscale: https://www.youtube.com/... Audio:https://podcasts.apple.com/ ... https://twitter.com/... Katie Greifeld / @kgreifeld : specific to Gemini's Earn product — which lended to Genesis — Winklevoss says Genesis owes $900 million to Gemini Gemini was sued for fraud over the Earn accounts late last month by @olgakharif : https://www.bloomberg.com/... via @crypto @lowstrife : I feel like these tweets will be references in court documents in our future. https://twitter.com/... @ramahluwalia : 3/ Grayscale generates $175 MM NI (assume a 65% profit margin * $270 MM run-rate revenue). Genesis holds a significant amount of GBTC (~$500 MM) at a discount. The GBTC asset can be used to partially pay off the liability - even if it forces selling at an 80% realized loss. @sassal0x : Barry vs the Winklevoss twins is a great way to start the new year @amuse : 1/ The Winklevoss twins used almost $2B dollars in customer digital coins in a scheme where they ‘loaned’ the coins to another company in exchange for returns up to 8%. The other company isn't returning the coins and the customers are suing the twins. https://www.bloomberg.com/... Cas Piancey / @caspiancey : Love that the Winklevoss twins are pretending they speak for schoolteachers and police officers, the working class. Shut the fuck up and hire some lawyers to get your money back, don't pretend you're heroes. @iamdcinvestor : an open letter to @cameron: no one put a gun to your head & made you accept Earn user deposits and promise a return by depositing with Genesis and skimming some off the top for yourself at the end of the day, it is @Gemini who owned these customer relationships, not Genesis https://twitter.com/... Wolf / @imnotthewolf : Yikes. “Steady lads” https://twitter.com/... JC Oviedo / @jcoviedo6 : When bankruptcy? https://twitter.com/... @sss4321_s : Wait, everything is ok but still there is a proposal for what? https://twitter.com/... @btc_jacksparrow : “Where is the money, Lebowski?!” https://twitter.com/... https://twitter.com/... @leeorshimron : Never a dull day in this industry.. https://twitter.com/... @loopifyyy : Mum. The billionaires are battling it out on Twitter again. Last time this happened, didn't end well. 🍿! @toptickcrypto : Apparently in response to Cam Winklevoss claiming that “DCG and Genesis are beyond commingled” Barry says that “DCG delivered to Genesis” a proposal on 12/29 but has not received any response. Does Barry know anyone at Genesis??? 🤔 https://twitter.com/... Andrew / @ap_abacus : UPDATE: “we do not expect DCG/Genesis to meet the Jan 8 deadline. We expect a protracted legal battle and are prepared for one. **a source on the legal/advisory @Gemini team @riddle245 : Ahhh so DCG owned by Barry sent the proposal to Genesis also owned by Barry it is just Barry never responded so its not Barry's fault? Makes sense to me. https://twitter.com/... Alistair Milne / @alistairmilne : Happy New Year? Guys? Guuuyys? https://twitter.com/... Andrew / @ap_abacus : “The idea in your head that you can hide in your ivory tower and that this will all just magically go away...” **below @cameron pens a pointed letter to Barry Silbert. **as mentioned yesterday, @Gemini is acting in good faith, while DCG/Genesis are not. https://twitter.com/... Maya Parody / @mayazi : DCG drama is accelerating on the first biz day of '23. If the Winklevoss are going public with their beef, it's a a set up in the chicken game Barry is playing. Meaning, DCG is either toast or has some really bad offers they're reluctant to accept behind the scenes https://twitter.com/... Brad Mills / @bradmillscan : This is rich, the Winkelvii are trying to pass all of the blame to DCG & Barry. Cameron & Tyler built a way to pimp their customers to crypto ponzi operators to earn a spread on them - now they have the nerve to say that Barry was greedy. Take responsibility boys, you did this. https://twitter.com/... @tree_of_alpha : That part is kinda amazing: “Earn users are tired. [...] They deserve a resolution for a recovery of the assets they lent to you.” You put your funds in Gemini Earn and the Winklevoss' are wording it like you deposited it in Barry's bank account directly lmao. @tree_of_alpha : While Barry is clearly just another generate with a half-successful product who buys tops and has no idea what he's doing, it was Gemini's decision in the first place to lend users' hard-earned money to centralized degens. If you can't get yield on your own, stop Earn programs. https://twitter.com/... @coloradotravis : Dear Barry, This is all your fault and definitely not our fault for completely cocking up the diligence. Just want to make that super clear now that people are going to jail and stuff. You are the Ponzi; we are just Ponzi affiliates which is like way different. Okay thx, CW https://twitter.com/... @cryptoncoffeee : day 2 of 2023 and @BarrySilbert getting called out by the winklevoss twins was def NOT on the bingo card! https://twitter.com/... Arthur / @arthur_0x : Why doel so many of these borrowers that owe a fuck ton of money always act like this? As if bad faith stall tactics ever work. https://twitter.com/... @scottmelker : Putting Barry Silbert's feet over the fire. Whole body comes next. https://twitter.com/... @basedkarbon : There's always a tweet https://twitter.com/... @219_eth : An Open Letter to @BarrySilbert https://twitter.com/... Dylan LeClair / @dylanleclair_ : Quite the open letter from Cameron Winklevoss of Gemini to DCG's Barry Silbert. Genesis owes Gemini $900 million, and DCG owes Genesis (a subsidiary company of DCG) $1.675 billion. https://twitter.com/... Jacob Silverman / @silvermanjacob : The guitarist of Mars Junction wants to know where's the bitcoin, Barry. https://twitter.com/... Frances ‘Cassandra’ Coppola / @frances_coppola : “We lent our depositors' funds to you and you won't give them back” 🤣🤣🤣 https://twitter.com/... @mhonkasalo : “You took this money — the money of schoolteachers — to fuel greedy share buybacks, illiquid venture investments, & kamikaze Grayscale NAV trades that ballooned the fee-generating AUM of your Trust... all for your own personal gain.” Banger. https://twitter.com/... @hsakatrades : “You continue to refuse to get into a room with us to hash out a resolution. In addition, you continue to refuse to agree to a timeline with key milestones. Every time we ask you for tangible engagement, you hide behind lawyers, investment bankers, and process.” https://twitter.com/... https://twitter.com/... @basedkarbon : Holy shit https://twitter.com/... Alistair Milne / @alistairmilne : It couldn't work for FTX as the hole was too big and there was obvious fraud and malpractice, but a $BFX-style token rebought every month by Grayscale / DCG would work here imo https://twitter.com/... Pierre / @pierre_crypt0 : Big year Barry, big year. https://twitter.com/... David Hollerith / @dshollers : Gemini sets Jan 8 deadline for DCG to “publicly commit” to resolving its withdrawal freeze. Cameron Winklevoss claims DCG and Genesis assets are “beyond commingled.” https://twitter.com/... Frank Chaparro / @fintechfrank : “The idea in your head that you can quietly hide in your ivory tower and that this will all just magically go away, or that this is someone else's problem, is pure fantasy.” https://twitter.com/... @tier10k : [DB] Winklevoss Ask Genesis to Solve Problem by Jan 8th, “We Remain Ready and Willing to Work With You, but Time Is Running Out” @tier10k : [DB] Cameron Winklevoss Posts Open Letter to Barry Silbert

Bloomberg Olga Kharif

Discussion

  • @cameron Cameron Winklevoss on x
    Earn Update: An Open Letter to @BarrySilbert https://twitter.com/...
  • @tier10k @tier10k on x
    [DB] Winklevoss Say Genesis Engaging in “Bad Faith Stall Tactics”
  • @basedkarbon @basedkarbon on x
    Dear Barry, I wrote you but you still ain't calling. I left my cell, email and telegram at the bottom. I sent $900,000,000 back in autumn you must not a got 'em, there probably was a problem with your subsidiary or something. https://twitter.com/...
  • @219_eth @219_eth on x
    An Open Letter to @BarrySilbert https://twitter.com/...
  • @dylanleclair_ Dylan LeClair on x
    Quite the open letter from Cameron Winklevoss of Gemini to DCG's Barry Silbert. Genesis owes Gemini $900 million, and DCG owes Genesis (a subsidiary company of DCG) $1.675 billion. https://twitter.com/...
  • @frances_coppola Frances ‘Cassandra’ Coppola on x
    “We lent our depositors' funds to you and you won't give them back” 🤣🤣🤣 https://twitter.com/...
  • @adamscochran Adam Cochran on x
    Holy shit Gemini is now publicly calling out Barry/DCG, saying total owed is nearly $1.7B and that Barry hasn't been cooperating on a resolution. Way worse than I thought for DCG... https://twitter.com/...
  • @mhonkasalo @mhonkasalo on x
    “You took this money — the money of schoolteachers — to fuel greedy share buybacks, illiquid venture investments, & kamikaze Grayscale NAV trades that ballooned the fee-generating AUM of your Trust... all for your own personal gain.” Banger. https://twitter.com/...
  • @hsakatrades @hsakatrades on x
    “You continue to refuse to get into a room with us to hash out a resolution. In addition, you continue to refuse to agree to a timeline with key milestones. Every time we ask you for tangible engagement, you hide behind lawyers, investment bankers, and process.” https://twitter.c…
  • @basedkarbon @basedkarbon on x
    Holy shit https://twitter.com/...
  • @alistairmilne Alistair Milne on x
    It couldn't work for FTX as the hole was too big and there was obvious fraud and malpractice, but a $BFX-style token rebought every month by Grayscale / DCG would work here imo https://twitter.com/...
  • @pierre_crypt0 Pierre on x
    Big year Barry, big year. https://twitter.com/...
  • @dshollers David Hollerith on x
    Gemini sets Jan 8 deadline for DCG to “publicly commit” to resolving its withdrawal freeze. Cameron Winklevoss claims DCG and Genesis assets are “beyond commingled.” https://twitter.com/...
  • @fintechfrank Frank Chaparro on x
    “The idea in your head that you can quietly hide in your ivory tower and that this will all just magically go away, or that this is someone else's problem, is pure fantasy.” https://twitter.com/...
  • @tier10k @tier10k on x
    [DB] Winklevoss Ask Genesis to Solve Problem by Jan 8th, “We Remain Ready and Willing to Work With You, but Time Is Running Out”
  • @tier10k @tier10k on x
    [DB] Cameron Winklevoss Posts Open Letter to Barry Silbert
  • @barrysilbert Barry Silbert on x
    @cameron 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 resp…
  • @zhusu @zhusu on x
    Here's rough summary of dcg situation 1) they conspired w FTX to attack Luna and steth and made a fair bit doing so 2) they took substantial losses in the summer from our bankruptcy as well as Babel, and other firms involved in gbtc 3) they could've calmly restructured then
  • @zhusu @zhusu on x
    7) dcg value is 0, criminal fraud, ftx creditors also have case for fraudulent conveyance on Alameda returns of capital to Genesis 8) most OGs are well aware of how close Barry and SBF were since beginning (SBF is on board of genesis, they gave him his first ftt backed loan)
  • @cameron Cameron Winklevoss on x
    @BarrySilbert There you go again. Stop trying to pretend that you and DCG are innocent bystanders and had nothing to do with creating this mess. It's completely disingenuous. So how does DCG owe Genesis $1.675 billion if it didn't borrow the money? Oh right, that promissory note.…
  • @edzitron Ed Zitron on x
    To explain what happened here: Gemini offered Gemini Earn, a magical thing that gave you up to 7.4% returns - unrealistic returns - and did so by lending the $900m in Gemini Earn to Genesis/DCG, who have now lost that money. The money is gone! Woosh! https://twitter.com/...
  • @cameron Cameron Winklevoss on x
    @BarrySilbert Will you, or will you not, commit to solving this by January 8th in a manner that treats the $1.1 billion promissory note as $1.1 billion?
  • @mikeburgersburg @mikeburgersburg on x
    DCG didn't borrow $1.675 billion from Genesis, but DCG owes Genesis $1.675 billion. DCG borrowed $575 million of Genesis customers' funds to buy back your own stock and keep Grayscale afloat. This tweet will be used against you. Don't go the SBF route, Barry! https://twitter.com/…
  • @tier10k @tier10k on x
    So uh what happens after Jan 8th if Barry doesn't fix things...?
  • @ramahluwalia @ramahluwalia on x
    1/ Letter from @cameron to @BarrySilbert. “After six weeks, your behavior is not only completely unacceptable, it is unconscionable”. It's a a game of chicken now. Any 3 Earn creditors can coordinate on an Involuntary Petition for Ch 11. Rapid analysis thread...🧵 https://twitter.…
  • @ap_abacus Andrew on x
    As predicted, this is now a Cameron/Tyler versus Barry - Gemini versus DCG/Genesis legal battle. **lines have been drawn, lawyers on the ready, and a January 8 deadline has been given. https://twitter.com/...
  • @tier10k @tier10k on x
    So Gemini gave the money to Barry (Genesis), who then gave the money to Barry (DCG), who then gave the money to Barry (Grayscale)?
  • @rj_valair @rj_valair on x
    One thing to mess up yourself but the deepest circle of hell is for those who, after failing, make it their sole purpose to bring everyone down with them way to go buddy https://twitter.com/...
  • @bowtiednightowl @bowtiednightowl on x
    Resorting to a public letter makes it seem to me like Gemini has no real negotiating leverage to get Barry to the table in a meaningful way. https://twitter.com/...
  • @kyleldavies Kyle Davies on x
    SBF can try to argue he was a child playing in an unregulated offshore sandbox. But Barry was a full grown man who architected the entire highly regulated lending daisy chain from his left to right pocket. It's going to get messy af.
  • @thecryptojourno @thecryptojourno on x
    Here's a rough summary of 3AC situation: 1) @zhusu & @KyleLDavies still owe creditors $3.5 billion. 2) that's it. the end. https://twitter.com/...
  • @autismcapital @autismcapital on x
    DCG is turbo screwed. Barry Silbert is trying to sequester Genesis as its own problem to avoid personal responsibility but everything is commingled beyond belief. Gemini also looking turborito boned as they're facing a huge class action and want to rip Barry alive. Happy 2023!🍿 h…
  • @autismcapital @autismcapital on x
    Winklevoss' and Barry Silbert going at it. Winklevoss' want an answer for how to move forward for their Gemini Esrn customers (that used Genesis for their program) but Barry is hiding behind technicality, legal jargon, and probably a sandwich. DCG is turbo cooked, Barry, face it.…
  • @levie Aaron Levie on x
    The sequel to the Social Network is going to be substantially weirder. https://www.bloomberg.com/...
  • @ashcryptoreal @ashcryptoreal on x
    Users deposited money into Gemini earn to earn yield. Then Gemini earn lent user funds to genesis trading. Then genesis lent money to DCG Then DCG lent money to grayscale Then grayscale bought BTC top from all the whales at $40k - $50k - $60k
  • @convertbond Lawrence McDonald on x
    Blows my mind that highly intelligent people enter financial transactions with mountains of liquidity and counterparty risks and then whine about the inevitable outcome on a public forum. Toxic mess. https://twitter.com/...
  • @iamdcinvestor @iamdcinvestor on x
    if i had Wink-level money, i'd just pay out of pocket and make the Gemini users whole right now and hope legal battles can get some money back from Barry/DCG because the Winks will lose many times that amount in lost Gemini equity due to brand damage if they do not
  • @autismcapital @autismcapital on x
    That feeling when Coindesk has to cover the fall of their owner to maintain journalistic integrity in the hopes they can be sold.
  • @edzitron Ed Zitron on x
    @cameron @BarrySilbert Hey Cameron. how about you take responsibility for putting user funds in Genesis. both of you are wrong
  • @snowden Edward Snowden on x
    *sigh* gonna be a big week https://twitter.com/...
  • @patio11 Patrick McKenzie on x
    As I've been hinting (and more-than-hinting), crypto has been attempting to ignore a very inconvenient fact about some systemically important institutions. Here's some of the quiet part getting said out loud. https://twitter.com/...
  • @mikeburgersburg @mikeburgersburg on x
    “You took this money - the money of schoolteachers - to fuel greedy share buybacks, illiquid venture investments, and kamikaze Grayscale NAV trades that ballooned the fee-generating AUM of your Trust; all at the expense of creditors and all for your own personal gain.” https://tw…
  • @sell9000 @sell9000 on x
    Alameda did not borrow $10 billion from FTX Alameda has never missed an interest payment to FTX and is current on all loans outstanding Yada yada yada https://twitter.com/...
  • @koeppelmann @koeppelmann on x
    This is an SBF style answer. Likely technically true but totally misses the core point and thus not in good faith. https://twitter.com/...
  • @levie Aaron Levie on x
    Really should've stuck to only not founding Facebook. https://twitter.com/...
  • @natbrunell Natalie Brunell on x
    If you're a $GBTC customer, you should be aware of this Open Letter from Cameron Winklevoss to DCG CEO Barry Silbert. Resharing my interview with @samcallah for background on what happened with DCG, Genesis and Grayscale: https://www.youtube.com/... Audio:https://podcasts.apple.c…
  • @kgreifeld Katie Greifeld on x
    specific to Gemini's Earn product — which lended to Genesis — Winklevoss says Genesis owes $900 million to Gemini Gemini was sued for fraud over the Earn accounts late last month by @olgakharif : https://www.bloomberg.com/... via @crypto
  • @lowstrife @lowstrife on x
    I feel like these tweets will be references in court documents in our future. https://twitter.com/...
  • @ramahluwalia @ramahluwalia on x
    3/ Grayscale generates $175 MM NI (assume a 65% profit margin * $270 MM run-rate revenue). Genesis holds a significant amount of GBTC (~$500 MM) at a discount. The GBTC asset can be used to partially pay off the liability - even if it forces selling at an 80% realized loss.
  • @sassal0x @sassal0x on x
    Barry vs the Winklevoss twins is a great way to start the new year
  • @wublockchain Wu Blockchain on x
    Gemini founder Cameron Winklevoss issued an open letter to DCG founder Barry, pointing out that today is the 47th day since Genesis stopped withdrawals of 340,000 EARN users, with 900 million US dollars, asking Barry to make a public commitment to address this issue by January 8.
  • @amuse @amuse on x
    1/ The Winklevoss twins used almost $2B dollars in customer digital coins in a scheme where they ‘loaned’ the coins to another company in exchange for returns up to 8%. The other company isn't returning the coins and the customers are suing the twins. https://www.bloomberg.com/..…
  • @caspiancey Cas Piancey on x
    Love that the Winklevoss twins are pretending they speak for schoolteachers and police officers, the working class. Shut the fuck up and hire some lawyers to get your money back, don't pretend you're heroes.
  • @iamdcinvestor @iamdcinvestor on x
    an open letter to @cameron: no one put a gun to your head & made you accept Earn user deposits and promise a return by depositing with Genesis and skimming some off the top for yourself at the end of the day, it is @Gemini who owned these customer relationships, not Genesis https…
  • @imnotthewolf Wolf on x
    Yikes. “Steady lads” https://twitter.com/...
  • @jcoviedo6 JC Oviedo on x
    When bankruptcy? https://twitter.com/...
  • @sss4321_s @sss4321_s on x
    Wait, everything is ok but still there is a proposal for what? https://twitter.com/...
  • @btc_jacksparrow @btc_jacksparrow on x
    “Where is the money, Lebowski?!” https://twitter.com/... https://twitter.com/...
  • @leeorshimron @leeorshimron on x
    Never a dull day in this industry.. https://twitter.com/...
  • @loopifyyy @loopifyyy on x
    Mum. The billionaires are battling it out on Twitter again. Last time this happened, didn't end well. 🍿!
  • @toptickcrypto @toptickcrypto on x
    Apparently in response to Cam Winklevoss claiming that “DCG and Genesis are beyond commingled” Barry says that “DCG delivered to Genesis” a proposal on 12/29 but has not received any response. Does Barry know anyone at Genesis??? 🤔 https://twitter.com/...
  • @ap_abacus Andrew on x
    UPDATE: “we do not expect DCG/Genesis to meet the Jan 8 deadline. We expect a protracted legal battle and are prepared for one. **a source on the legal/advisory @Gemini team
  • @riddle245 @riddle245 on x
    Ahhh so DCG owned by Barry sent the proposal to Genesis also owned by Barry it is just Barry never responded so its not Barry's fault? Makes sense to me. https://twitter.com/...
  • @alistairmilne Alistair Milne on x
    Happy New Year? Guys? Guuuyys? https://twitter.com/...
  • @ap_abacus Andrew on x
    “The idea in your head that you can hide in your ivory tower and that this will all just magically go away...” **below @cameron pens a pointed letter to Barry Silbert. **as mentioned yesterday, @Gemini is acting in good faith, while DCG/Genesis are not. https://twitter.com/...
  • @mayazi Maya Parody on x
    DCG drama is accelerating on the first biz day of '23. If the Winklevoss are going public with their beef, it's a a set up in the chicken game Barry is playing. Meaning, DCG is either toast or has some really bad offers they're reluctant to accept behind the scenes https://twitte…
  • @bradmillscan Brad Mills on x
    This is rich, the Winkelvii are trying to pass all of the blame to DCG & Barry. Cameron & Tyler built a way to pimp their customers to crypto ponzi operators to earn a spread on them - now they have the nerve to say that Barry was greedy. Take responsibility boys, you did this. h…
  • @tree_of_alpha @tree_of_alpha on x
    That part is kinda amazing: “Earn users are tired. [...] They deserve a resolution for a recovery of the assets they lent to you.” You put your funds in Gemini Earn and the Winklevoss' are wording it like you deposited it in Barry's bank account directly lmao.
  • @tree_of_alpha @tree_of_alpha on x
    While Barry is clearly just another generate with a half-successful product who buys tops and has no idea what he's doing, it was Gemini's decision in the first place to lend users' hard-earned money to centralized degens. If you can't get yield on your own, stop Earn programs. h…
  • @coloradotravis @coloradotravis on x
    Dear Barry, This is all your fault and definitely not our fault for completely cocking up the diligence. Just want to make that super clear now that people are going to jail and stuff. You are the Ponzi; we are just Ponzi affiliates which is like way different. Okay thx, CW https…
  • @cryptoncoffeee @cryptoncoffeee on x
    day 2 of 2023 and @BarrySilbert getting called out by the winklevoss twins was def NOT on the bingo card! https://twitter.com/...
  • @arthur_0x Arthur on x
    Why doel so many of these borrowers that owe a fuck ton of money always act like this? As if bad faith stall tactics ever work. https://twitter.com/...
  • @scottmelker @scottmelker on x
    Putting Barry Silbert's feet over the fire. Whole body comes next. https://twitter.com/...
  • @basedkarbon @basedkarbon on x
    There's always a tweet https://twitter.com/...
  • @silvermanjacob Jacob Silverman on x
    The guitarist of Mars Junction wants to know where's the bitcoin, Barry. https://twitter.com/...