Gemini has openly expressed frustration with the ongoing impasse. ![]() Mounting tensions and ongoing negotiations Securities and Exchange Commission (SEC) calling both firms to account. The severity of the situation has escalated due to allegations of unregistered securities sales through the ‘Earn’ program and allegations of mixed funds. This controversial financial misstep has intensified the turmoil between Gemini, headed by CEO Cameron Winklevoss, and DCG led by CEO Barry Silbert, creating an uncertain atmosphere within the digital currency realm.ĭCG’s missed payment comes amidst the backdrop of Genesis filing for Chapter 11 bankruptcy. Gemini is considering proposing an amended reorganization plan with Genesis that doesn’t require DCG’s approval, with negotiations between Gemini and DCG ongoing.Ī severe blow has hit Gemini, the cryptocurrency exchange, as the Digital Currency Group (DCG), the parent company of Genesis Global Capital, defaults on a payment to the tune of $630 million.Cameron Winklevoss, Gemini CEO, threatens to sue Barry Silbert, DCG CEO, over repayment of a $900 million loan amid allegations of selling unregistered securities and mixed funds. ![]() Digital Currency Group (DCG), Genesis Global Capital’s parent company, defaults on a $630 million payment to Gemini, amidst ongoing bankruptcy proceedings for Genesis.
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