• Digital Currency Group CEO Barry Silbert is in a heated dispute with the Winklevoss brothers, who have called for his removal from the DCG board.
• The Winklevoss brothers allege that Silbert and his colleagues at DCG have made false statements and misrepresentations to Gemini.
• The Winklevoss brothers have requested that the board remove Silbert as CEO, citing the $900 million case against him in the wake of the FTX implosion and collapse of Genesis Global Capital.
The ongoing dispute between the co-founder of crypto exchange Gemini, Cameron Winklevoss, and President of Digital Currency Group (DCG), Barry Silbert, has heated up yet again. On Tuesday, January 10, Cameron Winklevoss issued an open letter to the board of DCG demanding that Silbert be removed from his post as CEO, citing the $900 million case against him in the wake of the FTX implosion and the eventual collapse of Genesis Global Capital.
In the letter, the Winklevoss brothers alleged that Silbert and his colleagues at DCG had conspired to make false statements and misrepresentations to Gemini. They argued that “there is no path forward as long as Barry Silbert remains CEO of DCG” and requested that the board remove him from his position “effective immediately.” The Winklevoss brothers suggested that a new CEO be appointed to “right the wrongs” that had occurred under Silbert’s watch.
DCG is the parent company of crypto-related firms such as Genesis, Grayscale, Foundry, and the media outlet CoinDesk. As such, Silbert’s continued presence at the helm of the company has become increasingly controversial in light of the $900 million case against him.
The Winklevoss brothers have been vocal in their criticism of Silbert’s leadership and have sought to bring attention to the alleged misdeeds. They have put forward the idea that his removal from the CEO position is necessary in order to restore trust in the crypto industry and ensure that such lapses in terms of governance do not occur again in the future.
It remains to be seen how the DCG board will respond to the demands for Silbert’s resignation. However, it is clear that the Winklevoss brothers are not willing to back down and that the dispute between them and Silbert is likely to continue for some time.