Gemini Accuses DCG of Misleading Creditors
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Gemini Accuses DCG of Misleading Creditors

LegalCrypto Firm

By Miles

18 Sep 2023

1 min read


Gemini challenges DCG's bankruptcy plan, saying it's unfair to creditors. The exchange demands more clarity and rightful payments, stressing DCG's role in Genesis issues.

Gemini, a major cryptocurrency exchange, claims that Digital Currency Group (DCG) is misleading its creditors with a poor bankruptcy plan.

Gemini's recent court documents suggest DCG's plan tries to pay less than what they owe to the Genesis creditors. The firm says, DCG's offer is a trick to make us accept less money.

The exchange stresses its intention to fight for the rights of its customers. Gemini says it will resist DCG’s tactics and demand a fair payment: “We won’t let DCG avoid paying what’s right. Our lenders deserve better.”

In recent events, Gemini has been openly critical of DCG. They believe DCG isn’t admitting its role in the problems of Genesis and isn’t taking responsibility.

Previously, on August 31, Gemini stated DCG’s bankruptcy details were unclear and missing key information for those owed money. The report mentions creditors are still waiting for loans worth about $630 million.

Lastly, in July, Gemini took legal action against DCG and its leader, Barry Silbert. Gemini’s CEO, Cameron Winklevoss, accused Silbert of being dishonest with their exchange during a program they decided to end in 2022.

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