“Attorneys for Digital Currency Group, Barry Silbert, and Michael Moro have responded to recent efforts by New York Attorney General Letitia James to support her efforts to file a lawsuit against the crypto company and its executives. 😂

NYAG sued DCG and affiliated executives last year. This is the latest salvo in the legal wrangling between NYAG and the responses. Genesis and DCG claimed DCG had given "misleading assurances" on Twitter that Genesis had absorbed losses from the collapse of 3AC, designed to reassure investors and prevent them from calling their overdrafts. However, instead of filling the billion-dollar hole with a cash injection, DCG allegedly simply plugged it with a bond.

Genesis and Gemini settled with NYAG, but DCG, Silbert and Moro disputed the fraud charges and said the case was "meritless."

DCG's attorneys continued to argue that the bond at the center of the case was "an entirely appropriate financial transaction... and an asset that would benefit Genesis' creditors far more than they would have received had DCG not been so supportive."

Silbert's attorneys similarly acknowledged that Silbert "discussed ways to support Genesis following 3AC's default and ultimately signed the Notes to do so," but denied that his actions were fraudulent.

Is this all a bit complicated? Let's discuss in the comments! 😂🚀#DeFi#Web3"