DCG and its two executives (CEO and founder Barry Silbert and Soichiro "Michael" Moro, former CEO of DCG's wholly owned trading unit Genesis) have asked lawyers to file documents to persuade the judge to dismiss the civil fraud lawsuit filed against them by New York Attorney General Letitia James. Genesis and Gemini have reached a settlement with the NYAG, but DCG, Silbert and Moro have refuted the fraud allegations, calling the lawsuit "baseless." The lawyers argued that social media posts about Genesis' "strong" balance sheet were not lies intended to defraud, but just "corporate exaggeration." DCG lawyers wrote: "DCG did what a responsible parent company should do, providing advice, providing financial support, and in some cases reviewing and commenting on Genesis' communications." (CoinDesk) Earlier in June, the New York Attorney General's Office filed a motion to dismiss the fraud case filed in March by Digital Currency Group (DCG), founder and CEO Barry Silbert, and Soichiro "Michael" Moro, former CEO of DCG's wholly-owned cryptocurrency trading unit Genesis.
