A promise made, a promise kept. After clearly threatening Barry Silbert and his DCG of lawsuits last week, and after the latter’s apparent silence in the face of a final offer of out-of-court settlementthe Winklevoss brothers step up a gear and take legal action. On July 7, it was before the Supreme Court of the State of New York that Gemini Trust Company LLC has filed a complaint against Digital Currency Group, Inc. and its manager. After months of attacking each other via interposed messages, it’s now time to go to court.
Cameron Winklevoss remakes the game on social networks
Cameron Winklevoss doesn’t give up. For him, Barry Silbert is from bad faithand he never ceases to proclaim it loud and clear at every opportunity. The day after complainthe dipped his pen in the vitriol and penned a lengthy message on his favorite social network.
In 14 posts, he replayed the key moments of the affair, systematically damning DCG and Barry Silbert. He goes back October 2022when Gemini would have asked to stop the program Earn and where Barry Silbert would have assured Gemini of the sustainability of the program. We use the conditional tense, as the courts will have to determine what each party knew at the precise moment of these exchanges.
Then he goes even further back in time, to June of the same year, when Genesiswhich is owned by DCG and manages the Earn program, has allegedly hidden its financial difficulties following the bankruptcy of Three Arrows Capital. You get the idea. Justice is going to have to unravel everything in order to sort out the truths of one side from those of the other. Cameron Winklevoss continues his storyaccusing former DCG Group executives by name of having knowingly lied when publishing financial statements.
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For the Digital Currency Group, it’s « Move along! There’s nothing to see.
The charge is virulent and documented, and is probably intended to prepare opinion and judges to Gemini’s version of events. For its part, as you can imagine, the group DCG a n’a not quite the same vision of events. Right from the start, Barry Silbert denies any responsibility in this affair and swears by a bad set of circumstances. In fact, he himself took the trouble to write a messageWe’d like to take this opportunity, just 90 minutes after Cameron Winklevoss’s post, to set some things straight.
And the first sentence is very clear about its assessment of events:
« This is yet another publicity stunt by Cameron Winklevoss to deflect blame and responsibility from himself and Gemini, which managed the Earn program. Any suggestion of wrongdoing by DCG or any of its employees is baseless, defamatory and completely false. »
He goes on to explain that from day one, he and his teams have been involved in finding an amicable solution and getting out of the crisis as quickly as possible.
We wish the american justice in an attempt to the truth from the fake and try to find some truth in these contradictory accusations. The bankruptcy of FTX, then of Three Arrows Capital, are proven facts. As for the rest, it’s one man’s word against another’s. There’s no doubt that this case will continue to be one of the most controversial. soap operas crypto legal cases, such as the one between Ripple or more recently Coinbase against the SEC.
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