Gemini Lianchuang: The discount of the US$1.1 billion ticket market provided by DCG is only US$300 million, and it is involved in illegal manipulation of GBTC

Cameron Winklevoss, co-founder of the encryption trading platform Gemini, issued an open letter stating that DCG founder and CEO Barry Silbert and other key personnel misled all parties through false statements, convincing them that Genesis had recovered from the loss of Three Arrows Capital, thereby inducing Lenders continue to make loans. Cameron believes that the $1.1 billion promissory note offered by DCG has not actually been cashed in and that the net present value (NPV) of the note will be discounted significantly (about 70%) to reflect its current value, which could be $300 million. In addition, Cameron also revealed to the DCG board of directors that its executives jointly manipulated GBTC with Genesis and Three Arrows Capital in violation of regulations, causing Genesis to take huge risks, and the collapse of Three Arrows Capital caused DCG Group to fall into a deep liquidity crisis.