The Friday Focus: Issue 68

Another week with DCG, Genesis, and Gemini in focus, new layoffs, policymakers on the front foot, and another lender might be in trouble. Let’s dive into it!

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The Digital Currency Group (DCG), Genesis and Gemini saga continues this week. In a new public letter, Gemini’s Winklevoss demands the removal of DCG CEO Barry Silbert, accusing DCG of public lies and fraud. Silbert publicly defended DCG and Genesis, trying to debunk several accusations. Genesis reportedly owes creditors over $3 billion, and DCG is now considering VC portfolio sales to solve its issues. Gemini is now officially ending the Earn program they had set up with Genesis. In the middle of the public dispute, SEC charged Gemini and Genesis with unregistered securities offering related to Gemini’s Earn program. Great timing, right?

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