A huge dispute occurred between cryptocurrency trading platform Gemini and Digital Currency Group when 340,000 customers of the Winklevoss twins exchange still have not received their payments from the earnings program.
On November 16, 2022, Genesis, a credit card provider controlled by DCG, was on the verge of bankruptcy and stopped all financial activity after the collapse of 3AC and FTX, leaving Gemini customers with $900 million in debt.
The debt is still outstanding, and the Winklevosses have demanded that DCG management fulfill the outstanding obligations, but so far no action has been taken. In an open letter, the creators of Gemini once again demand the release of Barry Silbert because he has not paid users the payments due to them for 47 days. They also make it clear that Genesis has misled customers as well as the public about its solvency and financial situation.
In response to this question, DCG tweeted that it was actually the Winklevosses who were responsible for managing the Earn program, so they were taking desperate steps to absolve themselves of any blame. UPD: Gemini has since terminated all loan agreements with Genesis, and closed its Earn program, which was nearly $1 billion in debt.
