Gemini and Genesis’ legal troubles stand to shake up industry further

With investor confidence seemingly at an all-time low thanks to the recent slew of insolvencies, a new saga seems to be now unfolding in real time. This one involves crypto exchange Gemini’s Winklevoss twins and Barry Silbert, CEO of Digital Currency Group — the parent firm behind crypto market maker and lender Genesis.

There you go again. Stop trying to pretend that you and DCG are innocent bystanders and had nothing to do with creating this mess. It's completely disingenuous. Gemini has denied all of the accusations made against it by its clientele, saying it had all signed an agreement to “arbitrate claims relating to the Gemini Earn program” and that the various claims and causes of action initiated by the plaintiffs’ should not be litigated in any forum unless Genesis is also involved with the same.charged Gemini and Genesis

“Silbert has yet to fully own up to this failure, with some viewing his recent actions as a stall tactic while they search for emergency liquidity. Rather than calling out Gemini and its co-founder Cameron Winklevoss’ demands as publicity stunts, both parties should be putting user deposits first, as there are contractual obligations on both sides.”

Now's a very bad time to start a fiasco with the SEC

tyler

A new saga seems to be now unfolding. This one involves crypto exchange Gemini’s Winklevoss twins and Barry Silbert, CEO of DCG — the parent firm behind crypto market maker and lender Genesis.

I see greed everywhere.

“Shake” the industry? I like the way the industry has been shaken over the past week.

I feel glad that I stopped using Gemini earn before this happened. Just hodl bitcoin. hodl BTC

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