Crypto Biz: DCG’s ‘carefully crafted campaign of lies’? By Cointelegraph

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Crypto Biz: DCG’s ‘carefully crafted campaign of lies’?

Cryptocurrency Jan 14, 2023 07:40PM ET

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Crypto Biz: DCG’s ‘carefully crafted campaign of lies’?

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The monumental collapse of FTX didn’t just destroy a crypto exchange and wipe out billions in customer deposits — it also exposed accounting irregularities at Barry Silbert’s empire, the Digital Currency Group, or DCG. That’s according to Bitcoin (BTC) billionaire and Gemini co-founder Cameron Winklevoss. The FTX blow-up caused Genesis Global Trading, another DCG firm, to pause new loan originations and redemptions — a decision that directly affected Winklevoss’ Gemini Earn program. The pause on withdrawals has been active for nearly two months, prompting Winklevoss to pen two open letters addressed to Silbert and DCG’s board. The second open letter, published this week, claimed that Silbert was “unfit” to run DCG and that there would be no way forward with him at the helm.

In a follow-up to last week’s Crypto Biz newsletter, this week’s agenda again focuses on the dispute between Winklevoss and Silbert. We also chronicle Coinbase’s latest layoffs and the status of Voyager’s sale to Binance.US.

Cameron Winklevoss: ‘There is no path forward as long as Barry Silbert remains CEO of DCG’

Digital Currency Group under investigation by US authorities: Report

Coinbase (NASDAQ:COIN) to cut another 20% of its workforce in second wave of layoffs

Voyager and Binance.US deal given initial nod amid national security probe

Before you go: Is the bear market running out of steam?

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