Who is Barry Silbert & Cameron Winklevoss?

Digital Currency Group CEO Barry Silbert and Cameron Winklevoss, co-founder of crypto exchange Gemini, are engaged in a public feud over customer assets. At issue is $900 million of Gemini client funds that sit frozen inside DCG subsidiary Gensis.

Why did Winklevoss write an open letter to Silbert?

Winklevoss on Monday penned an open letter to Digital Currency Group boss Barry Silbert, alleging Silbert refused to meet with the Gemini team on multiple occasions to find a resolution to the liquidity crisis facing clients of Gemini Earn. According to the letter, Gemini Earn clients are owed more than $900 million from Genesis.

Who is Tyler Winklevoss?

Winklevoss, along with his brother Tyler, co-founded Gemini, a popular crypto exchange that, unlike many of its peers, is subject to New York banking regulation. Winklevoss and Silbert were linked through an offering called Earn, a nearly two-year-old product from Gemini that promoted returns of up to 8% on customer deposits.

Why is Winklevoss suing Silbert?

The accusations from Winklevoss against Silbert come as his crypto exchange Gemini faces legal threats from users. A group of investors filed a class-action lawsuit against the company, alleging it sold its Earn interest-bearing accounts without first registering them as securities.