Cameron Winklevoss, the co-founder of US-based exchange giant Gemini, has issued his “best and final offer” to Digital Currency Group (DCG) CEO Barry Silbert.
DCG is the parent company of the bankrupt crypto lender Genesis. Cameron Winklevoss and his twin brother Tyler Winklevoss have been in a public social media spat with Silbert for months over the halting of Gemini’s Earn program, which was funded by Genesis.
They have even gone so far as to call on DCG to fire Silbert. Genesis filed for Chapter 11 bankruptcy in January.
In a tweet posted on Monday, Cameron Winklevoss accused Silbert of committing fraud and trapping $1.2 billion worth of assets that belong to 232,000 Earn users. The Gemini co-founder laid out a repayment offer that he demanded Silbert accept by July 6th at 4 pm Eastern Time.
If the CEO doesn’t respond to and accept the offer, Winklevoss says they will file a lawsuit against DCG and Silbert personally.
“It takes a special kind of person to owe $3.3 billion to hundreds of thousands of people and believe, or at least pretend to believe, that they are some kind of victim.”
Winklevoss’ “best and final” offer involves a $275 million forbearance payment, $355 million in the first debt tranche, and $835 million in the second debt tranche, for a total of $1.465 billion.
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