latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Gemini Accuses DCG of Baiting Creditors Into Unfavorable Deal

Gemini Accuses DCG of Baiting Creditors Into Unfavorable Deal
Cryptocurrency exchange Gemini maintains its criticism of Digital Currency Group’s (DCG) bankruptcy plan, asserting that it is attempting to entice its creditors into an unfavorable deal .

“ DCG continues its campaign of contrived, misleading, and inaccurate assertions in an attempt to gaslight creditors of the Genesis estate generally,” the filing states.

Gemini Firmly Opposes DCG’s Creditors Approach

In a recent court filing, Gemini alleges that DCG’s bankruptcy plan aims to entice its creditors into an unfavorable agreement.

“The DCG Statement must be seen for what it is: DCG’s attempt to bait the Gemini Lenders into accepting a deal that would allow DCG to pay far less than it owes.”

Read more: How to Choose The Right Crypto Exchange

Gemini vows to continue opposing DCG’s bankruptcy plan to ensure its lenders receive the highest possible recovery for their lost assets.

“Gemini will continue fighting against DCG’s “starve them out” approach to ensure that DCG pays a just and adequate amount. The Gemini Lenders deserve more value from DCG, and there is more to get,” the filing states.

Strong Criticism of DCG In Recent Times

The crypto exchange asserts that DCG persists in denying its “central role” in the Genesis collapse. It further argues that DCG refuses to accept any responsibility at all.

Gemini has been vocal about its disapproval of DCG’s bankruptcy plan in recent times.

On August 31, Gemini argued that the bankruptcy plan was not clear and lacked crucial information for its creditors.

This came after the debtors tentatively agreed on the plan with the creditors. Gemini objected because the agreement lacked essential details about how creditors would be paid.

On July 7, Gemini initiated legal action against DCG and its founder, Barry Silbert. In the lawsuit, Gemini’s CEO, Cameron Winklevoss, alleged that Silbert engaged in deceptive conduct towards the exchange.

Winklevoss detailed that when Gemini opted to discontinue its Earn program in October 2022, Silbert approached Gemini, attempting to persuade them to keep the program running, even though he was aware of Genesis’ significant insolvency.
The post Gemini Accuses DCG of Baiting Creditors Into Unfavorable Deal appeared first on BeInCrypto . shares this Contents always with License.

Thank you for Share!



Cool to know huh? Read the full Article

Read the full Article:  ⭲ Gemini Accuses DCG of Baiting Creditors Into Unfavorable Deal

Search about Crypto News


The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed simple and intuitive, usable by all Devices, fast and effective.


Today Most Popular News

GlobaleCrypto Reinvents Cloud Mining: Signuo and get 7$

Dokky Bookcase Script