DCG Hires Top Attorney to Defend Against $1.1B Lawsuit

Introduction

Digital Currency Group (DCG) has announced that it has hired Barry Berke, one of the top attorneys in the U.S., to defend against a civil lawsuit filed by New York Attorney General Letitia James. This move comes in response to a lawsuit accusing DCG, Gemini, and Genesis of failing to disclose the risks of a crypto-lending program, resulting in alleged customer fraud amounting to $1.1 billion.

Barry Berke's Role

Barry Berke, currently a partner and chair of the litigation department at Kramer Levin law firm, will be representing DCG in this case. With a track record of successfully representing Fortune 500 companies, technology startups, and individuals in complex business cases, Berke brings a wealth of experience to the table. He has also served as an advisor to the US House of Representatives during former President Donald Trump's impeachment proceedings and has represented former New York City Mayor Bill de Blasio in federal and local investigations.

Defense Against the Lawsuit

Barry Silbert, the CEO of DCG, has referred to the lawsuit as "meritless" and believes that Berke's expertise will help counter the allegations. Berke himself has stated that the lawsuit is misguided and lacks merit both factually and legally. DCG and Barry Silbert are confident in their defense and are determined to prove their innocence.

Conclusion

Digital Currency Group's decision to hire Barry Berke demonstrates their commitment to vigorously defend themselves against the civil lawsuit. With Berke's extensive experience and expertise, DCG aims to refute the allegations made by the New York Attorney General and protect their reputation. This case highlights the importance of transparency and disclosure in the cryptocurrency industry, and the outcome will have significant implications for the future of crypto-lending programs.