Cameron Winklevoss, co-founder of Gemini, released an open letter requesting the board of Digital Currency Group (DCG) to remove Barry Silbert as CEO and to install a new CEO.
According to the letter, Genesis lost at least $1.2b in the Three Arrows Capital incident. Barry Silbert neither restructured Genesis' $8b loan book, nor filled the $1.2b hole. Instead, he let the public believe DCG had supported Genesis with $1.2b by telling lies.
"He has proven himself unfit to run DCG and unwilling and unable to find a resolution with creditors that is both fair and reasonable." Cameron Winklevoss said, "I am confident that with new management at DCG, we can all work together to achieve a positive, out-of-court solution that will provide a win-win outcome for all, including DCG shareholders. "