Barry Silbert’s Digital Currency Group Blasts New York’s Crypto Fraud Suit
- NY sued Digital Currency Group over failed lending program
- DCG asks court to dismiss it from New York’s $3 billion suit
Barry Silbert
Photographer: Joe Buglewicz/BloombergThis article is for subscribers only.
Barry Silbert and his Digital Currency Group are seeking to be dismissed from New York state’s $3 billion civil lawsuit over a failed crypto lending program, saying their alleged role in the matter rests on a “thin web of baseless innuendo.”
The suit accuses DCG and Silbert of misleading customers about the safety of the now-defunct program, called Gemini Earn — a venture between DCG’s Genesis Global Capital unit and crypto exchange Gemini Trust Co., founded by Tyler and Cameron Winklevoss. The brothers aren’t named in the suit.