Gemini Criticizes DCG’s Bankruptcy Plan
Cryptocurrency exchange Gemini is continuing to voice its opposition to Digital Currency Group’s (DCG) bankruptcy plan, accusing DCG of trying to deceive its creditors. In a recent court filing, Gemini claims that DCG’s plan aims to underpay its Genesis creditors through an unfavorable agreement. Gemini asserts that DCG is attempting to bait the Gemini Lenders into accepting a deal that would allow DCG to pay less than what it owes.
Gemini is committed to opposing DCG’s bankruptcy plan in order to maximize the recovery of its customers’ lost assets. The exchange vows to fight against DCG’s “starve them out” approach and insists that the Gemini Lenders deserve a fair and adequate amount from DCG.
Critical Stance Against DCG
Gemini strongly criticizes DCG for denying its central role in the Genesis collapse and refusing to take any responsibility. The exchange has been vocal about its disapproval of DCG’s bankruptcy plan, citing a lack of clarity and essential information for creditors. Gemini objected to the tentative agreement reached between DCG debtors and Genesis creditors, as it did not provide sufficient details about how creditors would be paid.
In July, Gemini filed a lawsuit against DCG and its founder, Barry Silbert, alleging deceptive conduct towards the exchange. Gemini’s CEO, Cameron Winklevoss, claimed that Silbert tried to persuade them to continue their Earn program despite being aware of Genesis’ insolvency.
Hot Take: Gemini Stands Firm Against DCG’s Bankruptcy Plan
Gemini remains resolute in its opposition to Digital Currency Group’s bankruptcy plan. The exchange asserts that DCG is attempting to deceive its creditors and pay them less than what they are owed. Gemini is determined to maximize the recovery of its customers’ lost assets and ensure that DCG pays a fair and adequate amount. The exchange strongly criticizes DCG for denying its role in the Genesis collapse and refusing to take responsibility. Gemini has taken legal action against DCG and its founder, alleging deceptive conduct. Despite facing opposition, Gemini remains steadfast in its pursuit of justice.
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