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.

Crypto Expert Forecasts Further Challenges for Bitcoin Price: Here’s the Explanation

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.

Uniswap (UNI) Price Potential: Will it Reach $5 Amid Increasing Network Demand?

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.

Transfer of $9,960,000 Worth of Ethereum (ETH) to Kraken Crypto Exchange: Insights from On-Chain Data
Author – Contributor at | Website

Bernard Nicolai emerges as a beacon of wisdom, seamlessly harmonizing the roles of crypto analyst, dedicated researcher, and editorial virtuoso. Within the labyrinth of digital assets, Bernard’s insights echo like a resonant chord, touching the minds of seekers with diverse curiosities. His talent for deciphering the most intricate strands of crypto intricacies seamlessly aligns with his editorial finesse, transforming complexity into a captivating narrative of comprehension.

Nomura, the Japanese Bank, Introduces Institutional Investor-Focused Bitcoin Adoption Fund in Latest Crypto Update
Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

Follow us

Latest Crypto News

Share via
Share via
Send this to a friend