Genesis CEO Asks for More Time as Winklevoss Pressures Parent Company DCG
The CEO of crypto broker Genesis has asked for time to sort out its troubled lending unit as its parent company Digital Currency Group (DCG) faces increasing pressure. Genesis halted withdrawals in November following the crash of crypto exchange FTX.
On Monday, Gemini co-founder Cameron Winklevoss wrote an open letter to DCG CEO Barry Silbert, accusing him of “bad faith stall tactics.” He claims his company has tried to work out a solution to getting the cash back but to no avail. Genesis interim CEO Derar Islim said in a Wednesday update to clients that the company is intent on sorting the problem out. Cameron Winklevoss claims that DCG owes Genesis a total of $1.675 billion.
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