Gemini's Cameron Winklevoss Tweets $1.5B 'Final Offer' in Debt Talks Over Crypto Firm Genesis
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State of Crypto: Policy and Regulation
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Gemini's Cameron Winklevoss Tweets $1.5B 'Final Offer' in Debt Talks Over Crypto Firm Genesis
Creditors of the crypto financial firm Genesis propose a package $1.5 billion of forbearance payments and loans denominated in dollars, bitcoin and ether, according to a term sheet posted on Twitter by the Gemini co-founder.
By Bradley Keoun
AccessTimeIconJul 4, 2023 at 7:29 a.m.
Gemini co-founders Tyler & Cameron Winklevoss, seen in colorful tuxedos, announced in June that they will expand their Singapore headcount to more than 100 employees, about 20% of the total worldwide staff.
Gemini co-founders Tyler and Cameron Winklevoss. (Getty Images)
Cameron Winklevoss, co-founder of the Gemini crypto exchange, tweeted what he described as a "final offer" in the debt-restructuring talks over the bankrupt digital-asset firm Genesis, bringing months of negotiations and mediation to a head with a plan for $1.5 billion in forbearance payments and fresh loans.
On Monday, Winklevoss posted to Twitter an "Open Letter to Barry Silbert," the founder of Digital Currency Group (DCG), which owns Genesis as well as the giant crypto asset manager Grayscale.
