In response to an open letter penned by American investor Cameron Winklevoss to Barry Silbert, CEO of Digital Currency Group (DCG), several high-profile industry insiders and legal figures have joined the conversation around the current crisis faced by crypto lender Genesis.
John E Deaton, Founder of CryptoLaw and a pro-XRP attorney, suggested that if Winklevoss can substantiate his claims, filing a lawsuit against DCG would be a justified course of action.
In his open letter, Winklevoss levied serious accusations against Silbert and DCG, alleging a “culture of lies and deceit” surrounding the financial conditions of DCG’s subsidiary Genesis.
This came as a reaction to Genesis’s financial troubles, which have resulted in an estimated $1.2 billion in trapped assets and the inability of customers to make withdrawals.
Genesis, which owes a significant $900 million to the crypto platform Gemini, has yet to comment on the situation. The ongoing crisis is expected to continue attracting attention, and it’s clear that the community is awaiting further response from Silbert and DCG.
