Leading cryptocurrency exchange Gemini has filed a lawsuit against Digital Currency Group and its founder, Barry Silbert, as reported by Coindesk.
Gemini filed a lawsuit alleging that DCG and its founder Barry Silbert were fraudulent through DCG subsidiary Genesis.
Gemini filed her case with the New York State Supreme Court.
With this lawsuit, Gemini aims to take its claim from DCG’s subsidiary Genesis.
Gemini has entered into a partnership with Genesis that allows Earn customers to earn up to 7.4% annually.
Gemini sent its clients’ funds to Genesis. However, Genesis filed for bankruptcy under Chapter 11.
In this context, Genesis owes Gemini $900 million in funds for the Earn program.
