Digital Currency Group (DCG) is seeking that Gemini’s lawsuit against founder Barry Silbert be dismissed.
Digital Currency Group wants to get rid of the litigation processes it has been in for a while. However, the company filed a request for the dismissal of the lawsuit.
DCG seeks case dismissed
Digital Currency Group (DCG) has filed a lawsuit seeking the dismissal of the lawsuit filed against crypto exchange Gemini and its founder, Barry Silbert. DCG described Gemini’s trial in July as “the continuation of the year-long Twitter-based character assassination of the Winklevoss brothers.” This sums up the developments regarding Gemini’s lawsuit against DCG and Silbert.
Gemini had sued Silbert and DCG for allegedly arguing that DCG’s subsidiary, Genesis, owed money to customers of the crypto exchange. The lawsuit concerned issues over crypto loan transactions between Genesis and Gemini. Genesis faced difficulties due to the failure to collect its loans to customers and filed for bankruptcy protection.
DCG states that these allegations are unfounded and claims that Gemini’s Winklevoss brothers ran a “public relations campaign wrapped in litigation.” The motion also states that DCG and Silbert are not involved in Genesis’ operations and have no affiliation with the Gemini Win program.
Also included is the case where Gemini accuses Silbert of being the “architect” and “brain” behind the fraud. However, DCG argues that there is no concrete evidence of these claims and that Gemini does not have solid claims on this issue.
Gemini’s lawsuit states that DCG and Silbert were not involved in Genesis’ operations and had no knowledge of the alleged fraud. The case can be considered as an example that reflects the complexity of competition and business relations in the crypto industry.
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