Barry Silbert Says DCG Didn’t Borrow $1.6B From Winklevoss’s Gemini: ‘Current on All Outstanding Debt’ – Ethereum Classic (ETC/USD)

digital currency group CEO Barry Silbert have denied Gemini co founder cameron winklevossalleges that his venture capital company crores owed For cryptocurrency platform.

What happenedWinklevoss said on Monday that the DCG parent Genesis Global Capital Gemini’s customers are owed $900 million, and despite waiting six weeks for a repayment agreement, he claimed Gemini has yet to receive a response on the matter.

Silbert countered by saying that DCG has not borrowed the $1.675 billion from Origin and is “current on all loans” that it owes. He said the DCG had made an offer to Genesis and some advisors on December 29, but there was no response.

See more: Best Crypto Day Trading Strategies

dispute, Gemini Trust Company, a company run by the Winklevoss, offered investors the opportunity to earn a potential 8% return by lending their cryptocurrency tokens to Genesis Global Capital through DCG. According to BloombergEarn – the product involved in this transaction – had to be halted in November after it was discovered that $175 million was held up in one account Sam Bankman-Friedbankrupt crypto exchange ftx,

The Winklevoss twins accused Silbert of taking $1.675 billion and employing it to liquidate, which aided other DCG ventures such as “greedy” share buybacks, rather than repaying creditors.

peter schiff, A gold bull said Gemini customers were denied access to their funds due to a private creditor’s liquidity or solvency issues, whereas at a traditional bank due to a government mandate the funds were physically present. Will happen.

Earlier in December, the sentiment had seen coins like ethereum classic ETC/USD, Flow Flow/usdAnd polka dot DOT/USD done in dcg fell hard In recent times.

price action: While writing, Etcetera was trading at $16.07, up 3.24% in the last 24 hours, back Ethereum ETH/USD With 1.45% profit, According to Benzinga Pro.

Read further: Bitcoin, Ethereum, Dogecoin Trade Higher – Why This Analyst Is Calling a Bull Market as 2023 Unfolds

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