Gemini Alleges DCG’s Manipulative Tactics Towards Creditors

Gemini Alleges DCG's Manipulative Tactics Towards Creditors


Gemini Criticizes DCG’s Bankruptcy Plan

Digital currency exchange Gemini is continuing to voice its opposition to Digital currency Group’s (DCG) bankruptcy plan, accusing DCG of attempting to deceive its creditors. In a recent court filing, Gemini states that DCG’s plan intends to underpay its Genesis creditors through an unfavorable agreement. Gemini claims that DCG is trying 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 to be able 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.

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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.

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In July, Gemini filed a lawsuit against DCG and its founder, Barry Silbert, alleging deceptive conduct towards the exchange. Gemini’s CEO, Cameron Winklevoss, argued that Silbert tried to persuade them continuation their Earn program regardless of 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 claims that DCG is trying 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 secure 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. Regardless of facing opposition, Gemini remains steadfast in its pursuit of justice.

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