The update included a personal update from Barry Silbert regarding his daughter's battle with a rare form of pediatric bone cancer.
The crypto conglomerate Digital Currency Group today published its financial results for the third quarter to shareholders, providing an overview of the financial performance of its various businesses and an update on the fraud lawsuit initiated by the New York Attorney General against its now-defunct subsidiary, Genesis.
The update began with a personal update from Silbert, who shared that his nine-year-old daughter has been battling a cancer diagnosis. The core of the NYAG's case revolves around DCG's participation in Gemini's Earn program, which was administered by Gemini but had its funds managed by Genesis. New York prosecutors allege that DCG and Gemini lied to investors and withheld information from creditors, noting specifically that its investigation found "Gemini’s internal analyses of Genesis showed that the company’s financials were risky.
In its third quarter update, DCG said that the civil suit "blind sided" the company, adding that there is "no evidence of wrongdoing by DCG, Barry Silbert, or our employees."
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