Barry Silbert, the founder and CEO at Digital Currency Group (DCG), responded to an open letter that addressed DCG’s $1.675 million debt. Cameron Winklevoss, co-founder of Gemini, raised the issue in an open letter he posted on Twitter on January 2.
Cameron’s Open Letter to Silbert
Cameron had earlier today tweeted against the DCG head, highlighting the delay in stopping Genesis withdrawals. He also addressed the issue facing 340,000 Earn customers, who are still waiting for withdrawals to resume. His digital assets have accumulated to more than $900million.

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Earn Update: An Open Letter to @BarrySilbert pic.twitter.com/kouAviTho4
Cameron Winklevoss (@cameron), January 2, 2023

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Barry Silbert’s Remark
Silbert, on the other hand, focused his tweet on rejecting missing payments and assuring that DCG was current on all loans and that it had never missed any interest payments. The next payment is due in May 2023. The DCG CEO stated that the next payment would come due in May 2023.
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He also pointed out that the efforts of his company to provide a solution for Gemini users on December 29th, did not go unnoticed, and are still not acknowledged by Genesis’s team.

Winklevoss’ Jan 8 Ultimatum
Winklevoss pointed out that Silbert’s actions were unacceptable and regrettable considering that Genesis was trusted by many customers. Silbert has been rebuffed by the co-founder of Gemini cryptocurrency exchange. He must address the matter by January 8th.

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Genesis made a significant decision about withdrawals on November 16, 2022, just after the collapse of the FTX empire. The lending division of the largest institutional digital asset manager announced that it would temporarily stop redemptions and reopen loans. Although speculation was rampant about Genesis’ insolvency, it was later denied by the crypto firm.
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