Gemini Sues DCG, Alleges Barry Silbert Fraud in Genesis Capital Insolvency

• Gemini, founded by the Winklevoss twins, has filed a civil lawsuit against Digital Currency Group (DCG) and its CEO Barry Silbert.
• The lawsuit is rooted in a dispute over the insolvency of Genesis Capital, a firm with which Gemini had a significant business partnership.
• Cameron Winklevoss announced the suit on social media, along with several allegations of fraud and foul play against Silbert for his role in hiding the troubles at Genesis.

Gemini Files Lawsuit Against DCG & Barry Silbert

Gemini, founded by the Winklevoss twins, has filed a civil lawsuit against Digital Currency Group (DCG) and its CEO Barry Silbert. The lawsuit is rooted in a dispute over the insolvency of Genesis Capital, a firm with which Gemini had a significant business partnership.

Allegations of Fraud & Foul Play

Cameron Winklevoss announced the suit on social media, along with several allegations of fraud and foul play against Silbert for his role in hiding the troubles at Genesis. He claims that Silbert was the „architect and mastermind“ behind this alleged fraud committed by DCG and Genesis Capital.

DCG Responds to Allegations

DCG responded to these accusations saying that they believe all parties acted according to law throughout this process. They also said that they are confident their actions will be vindicated when all facts are presented in court proceedings.

Background Information

Genesis Capital is an asset management company owned by Digital Currency Group (DCG). It provides loans to cryptocurrency companies looking to take part in Initial Coin Offerings (ICOs). Gemini entered into an agreement with DCG back in 2017 to manage some of its assets through Genesis Capital.

Conclusion

The legal battle between Gemini and DCG remains ongoing as both sides present their cases before a judge. Stay tuned for more updates as this case progresses!

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