Cameron and Tyler Winklevoss withdrew over $280 million from their crypto company’s bank shortly before the firm collapsed, leaving customers unable to access their deposits. The twins, known for their dispute with Mark Zuckerberg over Facebook, have been involved in another legal battle with billionaire Barry Silbert and his company Digital Currency Group. Genesis, Silbert’s crypto bank, was the lender for Gemini’s interest-bearing account program, Gemini Earn. The twins secretly withdrew the funds from Genesis, raising questions about their knowledge of the lender’s financial troubles. The withdrawn funds did not include any customer deposits. It is unclear whether the funds were corporate assets or the twins’ personal cryptocurrency holdings. Gemini’s business has faced challenges this year, including layoffs and a decline in trading volume. The Winklevoss twins and Gemini are currently suing Silbert and Digital Currency Group.
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