DCG and its executives once again urged the New York Attorney General to withdraw the civil fraud lawsuit

ChainCatcher news, according to CoinDesk, Digital Currency Group (DCG) and its top executives, namely CEO and founder Barry Silbert and former Genesis trading division CEO Soichiro "Michael" Moro, are making efforts to persuade a judge to dismiss the civil fraud lawsuit filed by New York Attorney General Letitia James.

The lawsuit alleges that DCG, Gemini, and the now-bankrupt Genesis jointly concealed a $1 billion hole caused by the collapse of Three Arrows Capital (3AC), defrauding investors. James accuses DCG and Genesis of making "false assurances" on Twitter, claiming that DCG had absorbed the losses, but these assurances were not fulfilled. Although Genesis and Gemini have reached a settlement with the NYAG, DCG and its executives insist that the lawsuit is "baseless" and deny that the promissory note is fraudulent, arguing that it is legally binding and that they have transferred hundreds of millions of dollars in funds and assets to fill the hole. Both sides are engaged in a heated debate over the nature of the tweets, the validity of the promissory note, and the purpose of late-night strategy meetings.

DCG's lawyers state that the promissory note is a "completely appropriate financial transaction" that benefits Genesis's creditors. Silbert's lawyers also deny any fraudulent conduct on his part.