Breaking: Grayscale’s Parent DCG Hires Top Attorney Barry Berke In NY AG Lawsuit
Digital Currency Group on Wednesday said it has hired Barry Berke, one of the top attorney in the U.S., to defend against a civil lawsuit filed by New York Attorney General Letitia James.
DCG’s Barry Silbert’s said Berke will help the “meritless” civil lawsuit brought by the New York Attorney General. The lawsuit accused Gemini, Genesis, and DCG of failing to disclose to investors the risk of a crypto-lending program they started in 2021, allegedly defrauding customers of $1.1 billion.
Also Read: XRP Lawyer Deaton Requests Congress To Subpoena US SEC And Chair Gary Gensler
Barry Berke Promises To Defend DCG and Barry Silbert
“It is truly a privilege to represent DCG in the case,” said Barry Berke. He added that the misguided and meritless lawsuit against DCG and Barry Silbert is wrong as a matter of fact and law.
Berke is currently a partner and chair of the litigation department at Kramer Levin law firm. He has represented Fortune 500 companies, technology startups, and individuals in various complex business cases, achieving victories.
Berke also served as a chief counsel to the US House of Representatives during former President Donald Trump’s two impeachment proceedings. He has also represented former New York City Mayor Bill de Blasio in federal and local investigations.
Also Read: Binance Delisting ADA, MATIC, SHIB, LUNA, LUNC & 18 Other Crypto Margin Pairs
The lawsuit follows the filing of two lawsuits by Genesis Global against DCG and Digital Currency Group International (DCGI). Over 600 million dollars in debts, including over $115 million in Bitcoin, are being sought back by Genesis Global.
The crypto transactions between Gemini and Genesis with trading firms Three Arrows Capital and Alameda Research raised concerns, with ultimately bankruptcy of these firms.
- Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy
- XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization
- SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown
- Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility
- October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
