DCG labels Gemini lawsuit as ‘character assassination’ in motion to dismiss

Digital Currency Group (DCG) filed motions to disregard the suit brought against it by crypto speech Gemini, according to an Aug. 10 court filing.

DCG described the Gemini lawsuit arsenic a continuation of the exchange’s public relations “character assassination” run started by its co-founders, Cameron and Tyler Winklevoss.

Accuses Gemini of deflecting

According to DCG, the Winklevoss twins are trying to deflect blasted from their exchange’s users implicit their relation successful the defunct Gemini Earn programme done vicious, personal, and mendacious tweets that wrongly accused its laminitis Barry Silbert.

The Gemini Earn programme was formerly operated successful practice with the bankrupt subsidiary of DCG, Gemini. The programme rewarded customers who lent cryptocurrency to the program. However, the programme folded up aft FTX’s illness past year.

DCG stated that it could not beryllium held liable for the program’s nonaccomplishment arsenic it had “virtually nothing” to bash with it. It pointed retired that the Master Loan Agreement signed by Gemini’s customers explicitly stated that nary of the bankrupt lender’s genitor institution would beryllium a enactment to immoderate liabilities oregon obligations.

The crypto concern institution wrote:

“Gemini tries successful assorted ways to clasp Defendants liable for alleged misrepresentations by Genesis, but Gemini’s efforts to impute them to Defendants neglect arsenic a substance of law. It is simply a settled rule of instrumentality that parents are not liable for the behaviour of their subsidiaries.”

Asides from that, DCG noted that the speech failed to connect Genesis arsenic a suspect successful the lawsuit contempt some companies’ firm relationship.

DCG further alleged that Gemini failed to beryllium however Silbert practice to Cameron Winklevoss was fraudulent oregon however it aided and abetted immoderate fraudulent activity.

The steadfast concluded that the Court should onslaught retired Gemini’s claims with prejudice due to the fact that “no
additional allegations could cure the substantive defects successful the complaint.”

The station DCG labels Gemini suit arsenic ‘character assassination’ successful question to dismiss appeared archetypal connected CryptoSlate.