DCG boss Barry Silbert proposed a merger between Genesis and Gemini to the latter’s co-founder, Cameron Winklevoss, during a lunch meeting in Oct 2022.
Silbert's emails to his team seems to undermine some of the Winklevoss twins' claim in the ongoing lawsuit, a spokeswoman for DCG said.
“Good lunch with Cameron. Tldr: he is intrigued about the idea of a closer partnership between Genesis/Gemini/DCG, including a potential merger of the companies. I put him on clear notice that the path we’re on right now could lead to a Genesis bankruptcy, which would put Gemini's deposits at significant risk. He took that part surprisingly well and appreciates we need to work together to mitigate that risk,” Silbert wrote in the email.
“We could roll out Gemini's stablecoin across DCG and give Circle/USDC a run for their money,” Silbert wrote. “Even without merging, there is a ton more Gemini and Genesis can do together and the two companies should be leaning in together, not pulling apart.”