The week was a cautiously optimistic one for an industry still shaken by the turmoil of last year. Prices grew all week with Solana leading the charge with a 36% rally, all the more surprising considering SOL’s price was in freefall for the last two months following the collapse of FTX.
But there are still further crises in the industry, like that of crypto exchange Gemini and its lending partner, crypto prime broker Genesis. Genesis allegedly owes $900 million to users of Gemini’s Earn service, who have been unable to withdraw their money since FTX collapsed back in November.
Gemini co-founder Cameron Winklevoss on Monday tweeted a sharp open letter to Barry Silbert, CEO of Digital Currency Group, and by extension, Genesis, its wholly-owned subsidiary. “It is now becoming clear that you have been engaging in bad faith stall tactics,” wrote Winklevoss, accusing Silbert of squandering $1.675 billion of creditors’ and investors’ funds.
Silbert vehemently denied the charges. Cameron rejoined and then several more tweeters piled…
