Gemini co-founder Cameron Winklevoss accused Digital Currency Group head Barry Silbert of "bad faith stall tactics" and comingling funds at his conglomerate in a pointed open letter posted on Twitter early Monday that sought answers to why more than $900 million of his customers's funds are still inaccessible.
Gemini's Earn program, which allowed individuals to lend out their digital assets for an expected yield, has been frozen since mid-November amid a liquidity crises at Genesis and DCG that was kicked off in the wake of FTX's collapse.
Silbert took to Twitter with his own response, defending DCG and saying that his company delivered its own proposal to Gemini on Dec. 29 but has failed to receive a response.
The Winklevoss letter, in addition to the suggestion that Silbert was stalling the process, claimed that DCG owes Genesis about $1.7billion, and that that is money owed to Gemini Earn users. Silbert denied this and said DCG has never missed an interest payment to Genesis "and is current on all loans outstanding."
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