According to the latest edition of Arcane Research, the entire market appears to be stabilizing even though there’s still some uncertainty left.

Following accusations from Gemini co-founder Cameron Winklevoss in an open letter to Digital Currency Group CEO Barry Silbert, a report citing “people familiar with the matter” states that federal prosecutors from New York are scrutinizing transfers between Digital Currency Group and its subsidiary, Genesis Global Capital.

US authorities are digging into the internal financial dealings of Barry Silbert’s expansive crypto empire, according to people familiar with the matter.

The downfall of LUNA and FTX is still hurting the market. Although the total trading volume of crypto slightly rebounded at the beginning of the year, we have also heard bad news.

HQ Digital has ceased its operations due to the ongoing crypto winter. The firm was the wealth management division of the Digital Currency Group.

Digital Currency Group, the cryptocurrency conglomerate whose Genesis Global Trading division just announced more layoffs, has closed a wealth-management division called HQ Digital.

Larry Summers, the Harvard professor and former top financial advisor during the Obama administration, has cut ties with troubled crypto conglomerate Digital Currency Group (DCG). 

After the FTX collapse, everyone is wondering who is next. Will that be Barry Silbert’s DCG or Gemini, the Winklevoss Tweens crypto exchange?

Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, published an open letter to Digital Currency Group (DCG) CEO Barry Silbert on Jan. 2, 2022, stating that it had been 47 days since withdrawals from Genesis had been halted. In the letter, Winklevoss claimed that DCG owes $1.675 billion to Genesis. Silbert, however, responded on social media, denying the claim.

Gemini co-founder Cameron Winklevoss stated that DCG’s Barry Silbert has been acting in bad faith. However, Gilbert refuted the allegations and claimed that he has been cooperating with Gemini.