Gemini Criticizes DCGโs Bankruptcy Plan
Digitalย currency exchange Gemini is continuing to voice its opposition to Digitalย currency Groupโs (DCG) bankruptcy plan, accusing DCG of attemptingย to deceive its creditors. In a recent court filing, Gemini states that DCGโs plan intendsย to underpay its Genesis creditors through an unfavorable agreement. Gemini claimsย that DCG is tryingย 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 DCGโs bankruptcy plan toย beย ableย to maximize the recovery of its customersโ lost assets. The exchange vows to fight against DCGโs โstarve them outโ 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 DCGโs 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. Geminiโs CEO, Cameron Winklevoss, arguedย that Silbert tried to persuade them continuation their Earn program regardlessย of being aware of Genesisโ insolvency.
Hot Take: Gemini Stands Firm Against DCGโs Bankruptcy Plan
Gemini remains resolute in its opposition to Digitalย currency Groupโs bankruptcy plan. The exchange claimsย that DCG is tryingย to deceive its creditors and pay them less than what they are owed. Gemini is determined to maximize the recovery of its customersโ 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. Regardlessย of facing opposition, Gemini remains steadfast in its pursuit of justice.
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