Gemini Trust Co., owned by the Winklevoss twins, has put forth a motion to dismiss the Securities and Exchange Commission’s lawsuit against Gemini for allegedly selling unregistered securities.
XRP, the cryptocurrency with the third-largest market value, briefly reached a market capitalization over $1 trillion on Gemini, an American-based cryptocurrency exchange, on Tuesday April 6th.
Gemini, run by the Winklevoss twins, has filed a lawsuit accusing Digital Currency Group and Barry Silbert of infringement and misappropriation of the “Genesis” and “Earn” programs. The lawsuit claims that DCG and Silbert copied key elements of Gemini’s program.