DCG has filed a motion to dismiss the lawsuit of the New York prosecutor's office for $3 billion
DCG and its CEO Barry Silbert opposed the lawsuit by the New York Attorney General's office. In a statement, the company said that the holding had not violated the law in any way by its actions.
Digital Currency Group (DCG) holding and its CEO Barry Silbert have filed a motion to dismiss the lawsuit by the office of the Attorney General of the State of New York. The company and its management were accused of fraud with potential damage of $3 billion.
1/ Today, DCG and @BarrySilbert filed motions to dismiss the meritless civil lawsuit filed by the New York Attorney General against Gemini, Genesis, and DCG. As we have stated from the beginning, the allegations are a thin web of innuendo, mischaracterizations, and unsupported…
— Digital Currency Group (@DCGco) March 6, 2024
According to the company's statement, the prosecutor's office holds the holding responsible for actions aimed solely at supporting the Genesis subsidiary. The authorities did not provide any evidence that DCG had somehow violated the law, they stressed here.
The company also denies borrowing 18,000 BTC from Genesis in June 2022. Recall, the prosecutor's office stated that DCG concealed the fact of insufficient collateral for loans, close ties with Alameda Research and FTX, as well as a significant deficit covered, among other things, by these funds.
The authorities filed a lawsuit against the holding and its management in October 2023. It says that DCG's actions have led to significant financial losses for Earn program clients.
Source: https://incrypted.com/dcg-podal-hodatajstvo-ob-otmene-yska-prokuratury-nju-jorka-na-3-mlrd/
