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.

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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.

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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.