Gemini

Cryptocurrency

<p class="is-style-lead">Cryptocurrency exchange Gemini has filed a lawsuit in a New York court against DCG (Digital Currency Group) and Barry Silbert.</p> 
<p>Cameron Winklevoss, the co-founder of Gemini, alleged in a June 7 tweet that Silbert played a central role in orchestrating fraudulent activities and actively took part in the fraudulent schemes perpetrated by DCG and Genesis against creditors.</p> 
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   <p lang="en" dir="ltr">1/ Today, <a href="https://twitter.com/Gemini?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@Gemini</a> filed a lawsuit against <a href="https://twitter.com/DCGco?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@DCGco</a> and <a href="https://twitter.com/BarrySilbert?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@BarrySilbert</a> personally in New York court. Barry was not only the architect and mastermind of the DCG and Genesis fraud against creditors, he was directly and personally involved in perpetrating it.</p>— Cameron Winklevoss (@cameron) <a href="https://twitter.com/cameron/status/1677327395869581316?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 7, 2023</a>
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<h2 class="wp-block-heading" id="post-termination">Post termination</h2> 
<p>Winklevoss also believes that Barry Silbert, reaching out to the exchange&nbsp; after being notified of the program’s termination in October 2022, reportedly attempted to induce the exchange to continue Earn, despite being aware of Genesis’ substantial insolvency issues.</p> 
<p>Barry Silbert, along with DCG and Genesis, allegedly conspired to deceive Gemini and creditors by fabricating financial reports. These reports included false claims about a phony 10-year promissory note being labeled as a “Current Asset,” a falsified balance sheet misrepresenting the note as a $1.1 billion “receivable,” and intentional exclusion of the note from loan-duration calculations to conceal its existence.</p> 
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 <div class="wp-block-embed__wrapper"> <iframe title="SEC Sues Crypto Brokerages Gemini and Genesis" width="1020" height="574" src="https://www.youtube.com/embed/TAQE3Ig1TaU?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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<p>The lawsuit suggests that top-level executives, including Barry Silbert and the then-COO (now President) of DCG, were directly involved in perpetuating these lies and deliberately concealing the truth from Gemini and other creditors.</p>

Gemini files lawsuit against DCG and Barry Silbert alleging fraudulent activities

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