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Macro picture, Bitcoin’s bull/bear case, DCG controversy & more | E1666

This Week in Startups

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The Winklevine Twins Are Insolvent, Right?

Gemini is a company run by the Winklevoss twins. They take retail people's money to buy Bitcoin and give it to something called Genesis, which is run by Barry Silver. Genesis gives them an incredible return on that Bitcoin. That Bitcoin return is owned by the Wink levine twins. But Genesis takes custody of that Bitcoin because they're giving the loans against it. Then DCG gives themselves loans against that same currency.

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