In an open letter addressed to Barry Silbert, the CEO of Digital Currency Group (DCG), Cameron Winklevoss, the co-founder of Gemini, has made serious accusations against the company, claiming fraudulent behavior. Winklevoss represents the concerns of 232,000 Earn users, who collectively have over $1.2 billion worth of assets trapped in Genesis, a company owned by DCG.

Winklevoss draws attention to the extended suspension of withdrawals, which has lasted for 229 days, and the lack of response from DCG regarding allegations of making false statements. He strongly criticizes DCG for avoiding accountability and prioritizing fundraising efforts over working towards a resolution with the creditors.

Expressing disappointment in Silbert’s conduct, Winklevoss concludes the letter by urging him to act ethically. He contrasts Silbert’s behavior with that of Sam Bankman-Fried, another individual involved, who acknowledged the harm caused and took steps to address the situation.

Cameron demands that DCG fulfill its financial obligations by making payments totaling $1.465 billion. He asserts that this proposal is fair and reasonable for all parties involved, stressing that it represents the minimum acceptable to the creditors supporting the deal. Winklevoss sets a deadline of 4 p.m. ET on July 6 for Silbert to accept the terms. He warns that failure to do so will result in a lawsuit filed by Gemini against DCG and Silbert on July 7.