DCG labels Gemini co-founder’s allegations as ‘publicity stunts’ News ▸ US ▸ Gemini ▸ Bankruptcy
DCG labels Gemini co-founder’s allegations as ‘publicity stunts’
The recent allegations were a deflection of blame from parties responsible for marketing and operating Gemini Earn, according to DCG.
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Updated: Aug. 14, 2023 at 12:44 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The Digital Currency Group (DCG) has responded to recent allegations made by Gemini co-founder Cameron Winklevoss against the DCG, calling them “desperate and unconstructive publicity stunts.”
This is another desperate and unconstructive publicity stunt from @cameron to deflect blame from himself and Gemini, who are solely responsible for operating Gemini Earn and marketing the program to its customers.
— Digital Currency Group (@DCGco) January 10, 2023
Earlier on Jan. 10, Cameron alleged that Genesis Global and its parent company DCG, led by Barry Silbert, conspired to defraud about 340,000 Gemini Earn users.
According to the allegations, Barry, Genesis, and DCG lied to Gemini and its users that DCG had invested about $1.2 billion in Genesis to continue its operations, while Genesis lost a similar amount after 3AC collapsed.
However, DCG argues that the recent arguments are a deflection of blame from Cameron Winklevoss himself, Gemini, and the parties solely responsible for marketing and operating Gemini Earn.
Furthermore, the firm has maintained that it will pursue all available legal remedies in response to the “malicious, fake, and defamatory attacks” made by the Gemini co-founder.
Worth noting, the U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC) are investigating Digital Currency Group (DCG) to examine internal money transfers or loans within the firm, according to recent reports.
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Soumen Datta
Soumen is a dedicated researcher and writer in the field of cryptocurrencies, DeFi, NFTs, and GameFi projects.
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Gemini
Gemini is a regulated digital asset exchange and custodian that allows customers to buy, sell, store, and stake digital assets in a regulated, secure, and compliant manner.
Digital Currency Group
Digital Currency Group’s mission is to accelerate the development of a better financial system.
Cameron Winklevoss, a renowned figure in the cryptocurrency sector, is a Harvard University graduate with a degree in Economics and holds an MBA from Oxford University.
Barry Silbert, recognized as a foundational figure in the cryptocurrency landscape, serves as the CEO and founder of Digital Currency Group (DCG).