Cameron Winklevoss Accuses Barry Silbert of “Bad Faith Stall Tactics”

Vignesh Karunanidhi
Cameron Winklevoss Accuses Barry Silbert of “Bad Faith Stall Tactics”
Source: Boston Magazine

2022 has been chaotic for numerous reasons. One of the most recent reasons for this chaos has been the downfall of the FTX exchange. Investors and other cryptocurrency businesses were gravely affected by the catastrophic fall of FTX.

Gemini, which is run by the Winklevoss twins, is one such company that has developed an issue with the Digital Currency Group due to the FTX event. Gemini was also going through some other issues. Investors recently filed a lawsuit against Gemini and its founders, the Winklevoss twins, claiming that the exchange sold interest-bearing accounts without properly registering them as securities.

Investors specifically accused the business and its founders of fraud and Exchange Act violations. Amidst all the ongoing issues, Cameron Winklevoss recently accused Barry Silbert of bad-faith stall tactics.

Cameron Winklevoss said he provided multiple proposals to resolve the issues

Cameron Winklevoss recently stated in a letter that he had provided multiple proposals to resolve ongoing issues to Silbert, with the most recent one on December 25th.

“Despite this, you continue to refuse to get into a room with us to hash out a resolution.” “In addition, you continue to refuse to agree to a timeline with key milestones,” Winklevoss wrote in the letter.

Winklevoss also stated that every time they ask for tangible engagement, Silbert hides behind lawyers, investment bankers, and processes. He also added that after six weeks, Silbert’s behavior is unconscionable. He was also of the opinion that time was running out and that they were ready to work with Silbert. Winklevoss also asked Silbert to publicly commit to working together to solve this problem by January 8, 2023.