Cryptocurrency exchange Gemini has filed a lawsuit in a New York court against DCG (Digital Currency Group) and Barry Silbert.
Gemini co-founder Cameron Winklevoss alleged in a June 7 tweet that Silbert played a key role in organizing fraudulent activities and actively participated in fraudulent schemes perpetrated by DCG and Genesis against creditors.
after termination
Winklevoss also believes that Barry Silbert, who reached out to the exchange after being notified of the program’s termination in October 2022, tried to induce the exchange to continue Earn, despite being aware of Genesis’ significant insolvency issues.
Barry Silbert, along with DCG and Genesis, allegedly conspired to defraud Gemini and creditors by fabricating financial reports. These reports included false claims about a fake 10-year promissory note labeled as a “current asset”, a fraudulent balance sheet misrepresenting the note as $1.1 billion “outstanding”, and deliberate exclusion of the note from the loan term calculations to disguise it. existence.
(embed) https://www.youtube.com/watch?v=TAQE3Ig1TaU (/embed)
The lawsuit indicates that senior executives, including Barry Silbert and then-COO (current president) of DCG, were directly involved in perpetuating these falsehoods and willfully hiding the truth from Gemini and other creditors.
This is a developing story. Check back later for updates.