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Roubini Lambasts Gemini and DCG as “Ponzi Cesspools”

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Tue, 3/01/2023 - 10:09
Roubini Lambasts Gemini and DCG as “Ponzi Cesspools”
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In a recent tweet, economist Nouriel Roubini opined that crypto exchange Gemini and venture firm Digital Currency Group are both “scammy Ponzi cesspools” in light of heightened tensions between the two companies.   

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As reported by U.Today, Gemini’s Cameron Winklevoss has accused fellow businessman DCG’s Barry Silbert of "bad faith stall tactics" and the intermingling of funds within his conglomerate, asserting that the latter has left $900 million in customer assets needlessly in limbo since FTX's meltdown. Winklevoss claims the $1.675 billion borrowed by DCG from Genesis was used for other business purposes, asking Silbert to commit to finding a solution for Gemini Earn customers. 

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Silbert responded that DCG did not borrow from Genesis, and is current on all loans outstanding. Moreover, DCG has offered a proposal for resolving the dispute on Dec. 29th.

The most recent crypto feud highlights the complex network of connections between top firms in the crypto industry.

Roubini described the dispute as “crypto catfights about crappy sh*tcoins among shady characters.”

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