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Gemini’s Winklevoss twins and Charlie Shrem reach settlement in long-standing Bitcoin deal


ambcrypto.com 18 April 2019 09:00, UTC
Reading time: ~2 m

Cameron and Tyler Winklevoss, the founders of crypto exchange Gemini, reached a settlement with Bitcoin proponent and entrepreneur Charlie Shrem on April 16. The twins had filed a lawsuit against Shrem last year, accusing him of stealing 5,000 bitcoin worth $26.1 million, at press time. The twins also alleged Shrem of buying luxury items like Maseratis and powerboats in 2012, however, Shrem denied these allegations.

The attorneys of both parties filed the documents with a federal court in New York which stated that the civil action was being “dismissed voluntarily with prejudice”. The document also added that the Winklevoss Capital Fund and Charlie Shrem would pay their own legal fees and other costs.

It concluded:

“The case will not be reopened.”

According to a previous court document filed on April 5, the twins and Shrem had confirmed that they had reached a settlement and were given 30 days to execute their agreement. Both parties were given an option of proceeding to trial if this contract was not executed.

Shrem  expressed his gratitude towards his legal team following the settlement and in an interview with Cointelegraph said:

“From day one, I’ve maintained the allegations are bogus, and they are of course. After their attorney was sanctioned and they were ordered to pay my legal fees twice, we recently reached a confidential resolution, and I’m dismissed from the case.”

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