Cameron Winklevoss makes Barry Silbert an offer he can't refuse
Gemini co-founder Cameron Winklevoss has threatened to wage legal war against Digital Currency Group ( DCG ) and its chief Barry Silbert unless he agrees to settle the debt of its subsidiary, Genesis Global Trading, with Gemini Earn’s customers. In an open letter posted on social media on Tuesday, Winklevoss offered a “best and final offer” five-year repayment scheme totaling $1.5 billion — and accused Silbert of committing fraud by knowingly lying to investors. According to Winklevoss, Silbert pretended that DCG subsidiary Genesis absorbed the $1.2 billion in losses after the collapse of Three Arrows Capital (3AC). What’s more, the letter accused Silbert of pretending to “go through the motions of negotiating a deal” to try and “rope a dope creditors and position DCG to litigate the promissory note’s viability in court for many years to come.” Genesis owes creditors up to $3.3 billion, of which $1.2 billion is owed to Gemini Earn users who had their funds dep...