• Cameron Winklevoss, the CEO of the Gemini trading platform, has threatened to sue Genesis Global and its parent company, the Digital Currency Group, over the bankruptcy filing of two of its subsidiaries.
• Winklevoss has accused DCG of continuing to refuse to offer its creditors a fair deal and has called for them to recoup the funds owed to Gemini Earn customers, who are owed $900 million.
• Cameron has been very vocal on social media about the complacency of Genesis and the Digital Currency Group with regard to settling Gemini Earn customers.
Cameron Winklevoss, the co-founder and Chief Executive Officer (CEO) of the Gemini trading platform, has recently threatened to sue Genesis Global and its parent company, the Digital Currency Group (DCG). This action follows the bankruptcy filing lodged by Genesis involving two of its other subsidiaries.
It is believed that the Digital Currency Group has been refusing to offer its creditors a fair deal, leading to frustration from those affected by the bankruptcy. According to Winklevoss, this move will afford the firm to recoup its funds which were owed to Gemini Earn customers, who were reportedly owed $900 million.
Cameron has been very vocal on social media about the complacency of Genesis and the Digital Currency Group with regard to settling Gemini Earn customers. On more than one occasion, Cameron, who co-owns the Gemini exchange with his twin, Tyler Winklevoss, has claimed Silbert and Genesis have been using stall tactics to avoid paying out the funds owed.
The Gemini Earn program pays out a reward to users who subscribe to the product. Unfortunately, the Earn customers could not gain access to their funds as Genesis closed withdrawal. This has resulted in numerous complaints from customers who have yet to have their funds returned.
In response to the situation, Cameron took to Twitter to voice his frustration, accusing the Digital Currency Group of being complicit in the actions of Genesis. Cameron has also called for the group to take responsibility for its actions and to take steps to ensure that customers are not left out of pocket.
It remains to be seen if Cameron will follow through with his threat to sue the Digital Currency Group. In the meantime, customers affected by the bankruptcy filing are hoping that the situation will be resolved soon and that they will be able to access the funds owed to them.