Crypto exchange Gemini has recently filed a lawsuit against Digital Currency Group (DCG) and its founder, Barry Silbert.
As announced by the platform's co-founder Cameron Winklevoss:
"Barry was not only the architect and mastermind of the DCG and Genesis fraud against creditors, he was directly and personally involved in perpetrating it."
The lawsuit seeks damages against Gemini as a result of "false, misleading, and incomplete representations and omissions to Gemini."
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According to Winklevoss, the founder of Digital Currency Group was aware of Genesis' insolvency. With his statements, he allegedly covered up a "hole in Genesis’s balance sheet" of the company to the tune of $1.2 billion.
Cameron has stated:
"Barry, DCG, and Genesis all conspired to create false financial reports to hide the truth from Gemini and creditors."