Gemini CEO Cameron Winklevoss has strongly criticized Digital Currency Group (DCG)’s response to his lawsuit, describing it as “comic.” DCG said the Gemini lawsuit was an extension of a public relations smear campaign started by the exchange’s co-founders. Gemini seeks to attract more users to its platform with a giveaway of more than 28,000 XRP tokens in a week.
Gemini co-founder Cameron Winklevoss has criticized Digital Currency Group and Barry Silbert’s response to his lawsuit over the Gemini Earn program.
On August 11, Winklevoss described the response as “a summary written by a law student that conjures up technical legal defenses in a vacuum.”
Winklevoss Criticizes DCG for Denying Its Role in the Earn Program
In July, Gemini filed a lawsuit against DCG and Silbert over the bankruptcy of their bankrupt subsidiary, Genesis. The bankrupt lender was unable to meet its obligations to its creditors, including the Gemini Earn program, due to its exposure to the FTX collapse.
Winklevoss claimed that DCG’s explanation of its non-participation in the Earn program was tantamount to clearly acknowledging its responsibility.
On August 11, Winklevoss posted on X the following:
“Last month, @Gemini filed a lawsuit against @DCGco and @BarrySilbert for masterminding the DCG and Genesis fraud perpetrated against creditors, including Earn users. Their response filed yesterday, is filled with carefully crafted statements that are incredibly revealing.”
The exchange CEO noted that DCG’s argument, which suggests it is under no obligation to rectify allegedly inaccurate statements from Genesis to Gemini, lacks credibility when held up to scrutiny.
“You’ve got to be kidding me. When a company you own says you wrote a $1.1 billion dollar check that you know you didn’t write, yes, you have a duty to correct this,” he wrote.
Winklevoss alleged that this response followed Silbert’s pattern of evading responsibility, feigning ignorance, and exploiting technicalities to evade legal obligations. He added that the response “completely ignores the reality of the situation in a comical way.”
On August 10, DCG filed a motion to dismiss the ongoing lawsuit filed by Gemini. The cryptocurrency investment firm framed the lawsuit as an extension of a public relations smear campaign started by the Gemini co-founders.
DCG further stated that despite the corporate relationship of both companies, Gemini did not enlist Genesis as a defendant in the case. Therefore, he wants the court to dismiss all charges with prejudice.
Gemini Plans 28K XRP Giveaway
Meanwhile, Gemini is trying to attract more users to its platform by giving away 28,000 XRP tokens in a week. In a tweet on August 11, Gemini announced the launch of an XRP key program that will give away 4,000 XRP daily until August 18.
Throughout the period, the tap would open at 3:00 p.m. m. EST until the day’s allotment was exhausted. The giveaway allows people with verified Gemini accounts to claim a maximum of 20 XRP per day.
The exchange has taken steps to attract more participation by re-listing the XRP token and adding support for the XRP Ledger (XRPL) Blockchain.
Despite this, Gemini encountered minor challenges with the digital asset. Its value shot up to $50 on the platform due to liquidity problems.
By Leonardo Pérez
