This week in the crypto world we saw accusations of fraud from Gemini’s Cameron Winklevoss against Barry Silbert (again), BlackRock’s CEO talking up Bitcoin, and the truth come out about Taylor Swift and FTX
Scandal!
Cameron Winklevoss Ups the Stakes in Silbert Beef
Cameron Winklevoss this week issued a “best and final offer” to Digital Currency Group Barry Silbert over the $1.4 billion he says it owes Gemini. Winklevoss accused the DCG enterprise of engaging in “fraudulent behavior” and said that Silbert had “fostered and architected a culture of lies and deceit,” making a multi-stage offer to Silbert to pay off the debt, which leaves hundreds of millions of dollars of Gemini customers’ money stuck with DCG.
Winklevoss is clearly upping the stakes in the hope that Silbery either pays up or sues him for libel where he will be forced to defend himself.
BlackRock CEO Talks Up Bitcoin as “International Asset”
Bitcoin fans were already in love with BlackRock, but the affair continued this week when Larry Fink said that Bitcoin is an “international asset” that could act as a hedge against inflation. He also claimed that institutions were suppressing Bitcioin’s price in order to pick up more prior to institutional adoption driving demand through the roof.
Speaking with Fox Business, Fink suggested that investors see Bitcoin as an alternative to gold and claimed that cryptocurrency plays a role in digitizing the concept of gold in various ways. Finks’ words follow BlackRock’s recent application to offer a spot Bitcoin ETF, reflecting the company’s growing interest in cryptocurrencies.
Taylor Swift Was Dumped by FTX
Taylor Swift didn’t exercise good judgment when it came to her dalliance with FTX and was instead dumped by the exchange after a $100 million deal was agreed. These were the claims this week from the New York Times which reported that the singer signed a sponsorship agreement with FTX after more than six months of discussions but Sam Bankman-Fried pulled out at the last minute, leaving Swift’s team “frustrated and disappointed.”
This is a far cry from the accepted version of events to date which saw Swift’s team turn down the deal over after investigating the exchange and raising concerns over its securities status.
