DCG, Barry Silbert Move To Dismiss Gemini’s Lawsuit
The legal action to get cryptocurrency exchange Gemini’s lawsuit dismissed has finally been filed in court by Digital Currency Group [DCG] and its leader, Barry Silbert. In July 2023, the crypto exchange filed a lawsuit about the situation.
In its case, it claimed DCG had falsified financial reports and factual information. DCG’s failure to reply to Gemini’s “final offer” led to the filing of the lawsuit. The offer requested payment of $1.465 billion in cash, BTC, and ETH.
The Gemini Earn program, offered in association with Genesis, was shut down due to Genesis paused withdrawals, causing a back-and-forth clash between Gemini and DCG, the parent company of Genesis. DCG labeled the lawsuit as a smear campaign, citing social media allegations made by Gemini co-founders Tyler and Cameron Winklevoss. The court filing explains that the lawsuit was a “public relations campaign” and not a legal action.
(With inputs from Shikha Singh)
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