- Digital Currency Group (DCG) has engaged Barry Berke, a leading attorney in the United States, to represent them in a civil lawsuit initiated by NY Attorney General Letitia James.
- The lawsuit accuses DCG and associated parties of fraudulent activities in a crypto-lending program, alleging customer losses amounting to $1.1 billion.
Digital Currency Group (DCG), a pivotal entity in the cryptocurrency sphere, announced on Wednesday that they have enlisted the expertise of Barry Berke, a distinguished attorney in the U.S., for their defense against a civil lawsuit. This lawsuit has been filed by New York Attorney General Letitia James, placing DCG, along with Gemini and Genesis, at the center of serious allegations.
DCG’s CEO, Barry Silbert, expressed his confidence in Berke, emphasizing his belief that the lawsuit is unfounded. He elaborated that the civil lawsuit, which claims the crypto-lending program initiated in 2021 by Gemini, Genesis, and DCG was deceptive and led to customer losses of $1.1 billion, is
“meritless.”
Barry Berke: A Stalwart in Legal Defense
Barry Berke, now a partner and the chair of the litigation department at Kramer Levin law firm, has an extensive background representing a spectrum of clients—from Fortune 500 companies and technology startups to individuals—in intricate business litigations, achieving triumphant outcomes. His vast experience and legal acumen make him a formidable ally for DCG in these challenging times.
Berke’s role as chief counsel to the U.S. House of Representatives during former President Donald Trump’s two impeachment trials, alongside his representation of former New York City Mayor Bill de Blasio in federal and local investigations, underscore his proficiency in navigating high-stakes legal waters.
“It is truly a privilege to represent DCG in this case,”
Berke stated, asserting his dedication to challenging what he views as a misguided and baseless lawsuit against DCG and Barry Silbert.
The legal landscape surrounding DCG has been turbulent, with Genesis Global having filed two lawsuits against DCG and Digital Currency Group International (DCGI), seeking to recover over 600 million dollars in debts, including more than $115 million in Bitcoin. The interconnected crypto transactions involving Gemini, Genesis, Three Arrows Capital, and Alameda Research have further complicated the situation, leading to bankruptcy filings by some of these trading firms and intensifying scrutiny on DCG’s operations.
