Digital Currency Group Responds to Gemini Lawsuit, Calls it a "Publicity Stunt"
Digital Currency Group has dismissed the lawsuit filed against it by Gemini as a "publicity stunt" by Cameron Winklevoss. Gemini had accused DCG and its CEO Barry Silbert of defrauding its creditors by continuing the Earn program despite knowing about Genesis' insolvency. DCG has denied any wrongdoing and called Gemini's claims baseless and defamatory. The mediation process is said to be nearing a close, and DCG expects to bring the Genesis Chapter 11 case to a conclusion soon.
Gemini Files Lawsuit Against Digital Currency Group Over Alleged Cryptocurrency Fraud Impacting Earn Customers
Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has filed a lawsuit accusing Digital Currency Group (DCG) and its CEO Barry Silbert of defrauding Earn customers of almost a billion in cryptocurrency through the misinterpretation of financial statements. Gemini claims that Genesis, a DCG subsidiary, and DCG owe over $700 million to Earn users, marking the latest development in the ongoing dispute following Genesis' bankruptcy filing.
Gemini Sues Digital Currency Group and CEO Barry Silbert for Alleged Fraud Against Creditors
Gemini, the crypto exchange led by the Winklevoss twins, has filed a lawsuit against Digital Currency Group (DCG) and its CEO Barry Silbert for allegedly defrauding creditors. The lawsuit claims that Silbert committed fraud by continuing Genesis' Earn Program despite the subsidiary being "massively insolvent." Gemini is the largest creditor of bankrupt crypto lending firm Genesis. The lawsuit alleges that DCG and Silbert conspired to create false financial reports to hide the truth from Gemini and creditors.
Winklevoss Twins Set Final Deadline for Digital Currency Group To Restructure Bankrupt Genesis Unit
Gemini, the crypto company founded by the Winklevoss twins, has set a final deadline of Thursday afternoon for Digital Currency Group (DCG) to agree on a deal to restructure its bankrupt crypto lending unit Genesis. Genesis filed for bankruptcy in January after the collapse of key counterparties including FTX caused it to freeze customer redemptions in November.
Gemini CEO Criticizes Grayscale Bitcoin Trust as SEC Denies Spot Bitcoin ETF Application for 10 Years
July 2 (Cointime) - Gemini CEO Cameron Winklevoss has criticized the Grayscale Bitcoin Trust (GBTC) on Twitter, calling it a "toxic product." He also expressed frustration with the SEC's rejection of Gemini's application for a spot Bitcoin ETF 10 years ago, which he believes has deprived US investors of the opportunity to participate in one of the best-performing assets of the past decade.
Former Genesis and Gemini Executives Join Web3 Wallet Infrastructure Firm Dfns, Circle Adds Goldman Sachs Veteran to Board
July 1 (Cointime) - Dfns, a Web3 wallet infrastructure and security company, has hired former executives from Genesis and Gemini. John Conneely, who was previously in charge of institutional custody at Genesis, has been appointed as Vice President of Business Development and Sales at Dfns. Noah Cornwell, who was previously Vice President of Engineering at Gemini, has been appointed as Chief Technology Officer at Dfns. Meanwhile, Circle has appointed Craig Broderick, who has worked at Goldman Sachs for 38 years, to its board of directors.
DeepMind CEO Says Gemini AI Will Be “More Capable” Than OpenAI’s ChatGPT
June 27 (Cointime) - DeepMind, Google's AI subsidiary, has announced that its upcoming AI system, Gemini, will be more capable than OpenAI's ChatGPT.
Singapore Ranks as Second-Best Crypto Hub in the World Due to Regulatory Structure and Digital Infrastructure
June 27 (Cointime) - Singapore has been ranked as the second-best crypto hub in the world due to its regulatory structure, digital infrastructure, and ease of doing business. Despite average scores for quality of life and per-capita crypto jobs, the city-state is home to some of the biggest brands in crypto, including Binance, Coinbase, and Crypto.com.
Cryptocurrency Trading Platform Gemini Welcomes Clients Affected by Voyager Bankruptcy to Its Platform, Offers Promotions for New Users
June 26 (Cointime) -Cryptocurrency trading platform Gemini welcomes Voyager clients to its platform. Customers affected by Voyager’s bankruptcy will have until July 23, 2023 to create a Gemini account to withdraw their cryptocurrency in kind. Gemini is also running a promotion for newly registered and verified U.S. customers who will receive $5 worth of Bitcoin.
Hong Kong Has a Transparent and Open Registration Path and Approves the List of Encrypted Assets, and Will Become the World’s Leading Cryptocurrency Center
June 23 (Cointime) -The Winklevoss brothers, founders of Gemini, said on Twitter that they had a very pleasant meeting with the Hong Kong Securities Regulatory Commission (SFC), recording many of the SFC's thinking and methods. Key industry players are calling Hong Kong home and a vibrant ecosystem is developing here. Additionally, others expressed excitement about the growing cryptocurrency momentum in global financial centers such as Hong Kong, and called for more global expansion and a decentralized future.
