Digital Currency Group on Thursday urged a U.S. judge to dismiss a lawsuit claiming it defrauded customers of Gemini Trust, which was founded by billionaire twins Tyler and Cameron Winklevoss, into lending money to its now-bankrupt Genesis Global Capital unit.
In a filing in federal court in Manhattan, DCG and its founder, Barry Silbert, called Gemini's lawsuit part of a public relations campaign to "deflect blame" for losses suffered by hundreds of thousands of customers of Gemini Earn.
Gemini said the defendants did this so that Gemini Earn customers would continue lending crypto assets to Genesis, believing it was "business as usual." The halt followed the collapse of Sam Bankman-Fried's FTX cryptocurrency exchange. Bankman-Fried has pleaded not guilty to criminal fraud charges related to FTX's demise.
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