Gemini has said that its parent company DCG has failed to pay $630 million, which was due last week.
As Genesis, a DCG entity, filed for Chapter 11 bankruptcy amid claims of mixed funds and ongoing loan repayment issues, Gemini CEO Cameron Winklevoss has threatened to sue DCG CEO Barry Silbert and DCG over the payback of a $900 million debt. Genesis, the exchange’s principal revenue partner, unexpectedly banned withdrawals in November 2022. In retaliation, the Winklevoss twins vowed to sue Genesis’ parent firm, DCG, as well as its founder, Barry Silbert.
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