sbobet trustpilot Cameron accused Silbert of misrepresenting statements to Gemini on how the company was capitalized DCGs responsibility for Genesis restructuring and bankruptcy based on non-callable .1b promissory note The feud between Gemini crypto exchange cofounder Cameron Winklevoss and Digital Currency Group (DCG) CEO Barry Silbert continues to escalate, with Winklevoss calling for Silberts removal from the company. David Hollerith reports on Yahoo Finance.Winklevoss demanded Silbert step downCameron Winklevoss filed the second of two open letters. In the first one, which came last week, Winklevoss wrote:There is no path forward as long as Barry Silbert remains CEO of DCG.He demanded Silbert step down so DCG and Gemini can settle their ongoing dispute out of court.Misrepresenting statementsMost recently, Cameron accused Silbert of misrepresenting statements made to Gemini in relation to how the company was capitalized after an earlier loss in the summer.Silbert responded in a letter to investors. The key point of contention is about how culpable the company DCG is for Genesis current restructuring and potential bankruptcy. It boils down to this .1 billion promissory note, which is not callable now. That means DCG would not have to return those funds in the event of bankruptcy.What does this mean for Genesis?There still isnt much debate there, but the war of words will go on according to Hollerith. Silbert has claimed that his company never took out a .675 billion loan from Genesis, adding that the company is current on all outstanding loans and never missed an interest payment. He suggested the next interest payment on the loan would be made in May.The backgroundThe Winklevoss twins turned to Genesis when the company introduced its Gemini Earn program,which offered a yield of up to 8% on crypto assets. Gemini paid the interest partially by loaning customer money to Genesis Global Capital, owned by DCG, which then loaned the funds to institutional clients.After FTXs collapse, Genesis suspended customer redemptions, leaving Gemini unable to pay back Earn clients.
- sbobet trustpilot Metaverse use cases have to be commercialized soonerWith the market getting tougher, technology companies are pulling backMetaverse should be about how to build a safer automobile and test it with less physical waste, cost, and timeDaniel Newman of Futurum Research discusses how we will be able to use the metaverse in the healthcare, automobile, and other industries on Squawk Box, CNBC.Metaverse is getting on a consumer levelMetaverse companies flocked to CES (Consumer Electronics Show) 2023, which shows the metaverse is getting on the consumer level. Use cases have to be commercialized sooner.With the market getting tougher, technology companies are pulling back, says Newman. Theyre looking to invest in RD, in technologies that people can commercialize and monetize.Meta was too ambitiousHe gave Meta as an example of a company that was too ambitious about what the future of the metaverse might look like. There was an excessive focus on consumer applications, wearing the big headsets, the virtual universehow much of the market is going to get into that right away?Building worlds in the futureAfter expressing this doubt, Daniel Newman talked about what Nvidia is doing using generative AI to actually build worlds in the future, where you can see what a building will look like in a space or design the inside of an office, or what Microsoft is doing with Teams to create a more collaborative meeting experience. He said:When we go back to real world meetings, we see that connections and relationships are different than what we did on Zoom, so maybe the metaverse can bring us there.A wasted opportunity?The host asked if this was becoming an entirely wasted opportunity. He asked Newman:I dont see applications for education, healthcare, for housing (that you touched upon). Dont these developers have to move beyond gaming?Newman responded:The real applications of this are going to be manufacturing, planning, engineering. Its going to be in health care, in exploring car tech and creating safer settings in public. Its not about the big headsets and wearables; thats only part of it. Its about how to build a safer automobile and test it with less physical waste, cost, and time. The metaverse should be talking more about how to 3D print a valve, transplant it in a patients heart, and have the surgeon test it thousands of times. Of course, those commercial use cases dont usually make it in the media.