| In
Crypto
Competition
EDNY Goes
After DCG Over
Genesis After
SDNY grabbed
SBF of FTX
By Matthew
Russell Lee, Patreon Maxwell
book
SDNY COURTHOUSE,
Jan 7 –
Amid news that
DCG has
received
requests for interviews
and documents
from
Eastern
District of
New York
prosecutors,
the question
arises how crypto
(and other)
cases are
taken by EDNY or
the
Southern
District of
New York. Is
it just who
starts subpoena-ing
first? What is
the role of
Main Justice?
In the
SDNY, Gemini
Trust Company,
LLC was hit
with a class
action lawsuit
between
Christmas and
New Years,
where Inner
City Press is
in-person
covering
it.
Brendan
Picha and Max
J. Hastings,
"on behalf of
all others
similarly
situated,"
sued Gemini,
Cameron
Winklevoss and
Tyler
Winklevoss for
"repeated
false and
misleading
statements."
Their
complaint
recounts how
"on or about
November 16,
2022, Gemini
halted the
Gemini Earn
program and
refused to
honor any
further
investor
redemptions."
On
January 3,
Cameron
Winklevoss
published an
open letter to
Barry Silbert.
Silbert
replied, "DCG
did not borrow
$1.675 billion
from
Genesis
DCG has never
missed an
interest
payment to
Genesis and is
current on all
loans
outstanding;
next loan
maturity is
May 2023
DCG delivered
to Genesis and
your advisors
a proposal on
December 29th
and has not
received any
response."
The
SDNY case is
Picha, et al.
v. Gemini
Trust Company,
LLC, et al.,
22-cv-10922
(Buchwald)
***
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