After carefully reading Cameron Winklevoss’s open letter to Barry Silbert, John E. Deaton, the creator of the US crypto regulatory information platform CryptoLaw, recommended the brothers to sue Digital Forex Group (DCG). In his most recent tweet, Deaton, a pro-XRP attorney, said that if Cameron could back up his assertions, it would be wise to sue Silbert and his company.
An American investor named Cameron Winklevoss released a Twitter thread earlier today that included a screenshot of the open letter written to Barry Silbert, the CEO of the venture capital firm DCG. The current communication was a follow-up to his prior letter, and it began the same way: “At this time marks 229 days since Genesis halted withdrawals.”
Winklevoss emphasized the importance of compensating the impacted customers by pointing out the staggering $1.2 billion in assets trapped under the insolvent cryptocurrency lender Genesis, which DCG owns. The letter described the “tradition of lies and deceit” the DCG chief is accused of creating to hide the financial and insolvency circumstances of the business subsidiary.
The investor also expressed doubts about Silbert’s “most indirect” response to his prior letter. The investor sent a letter on January 2, 2023, addressing the large debts due by the DCG to individuals and organisations, including the cryptocurrency exchange Gemini. According to the letter, Genesis owes Gemini $900 million that the latter loaned to the former in connection with the Gemini Earn programmed.
After carefully reading the letter, Deaton recognized the idea of apprehending someone if they expose “who he actually is.”
Another noteworthy response to Winklevoss’ letter came from Ryan Selkis, the creator of the cryptocurrency analytics platform Messari. Selkis bemoaned the Securities and Exchange Commission’s (SEC) tactics for exploiting small investors and restructuring banks in order to hide DCG’s insolvency.