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Winklevoss Twins Reached Settlement to Drop Bitcoin Lawsuit Against Charlie Shrem

By Chris Torres | April 21, 2019
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Winklevoss Twins Reached Settlement to Drop Bitcoin Lawsuit Against Charlie Shrem

The Winklevoss twins – Cameron and Tyler – have come to a settlement to end a lawsuit with Bitcoin (BTC) entrepreneur Charlie Shrem, whom the twins have pressed charges in 2018.

According to a courtroom report last week, the co-founders of crypto exchange platform Gemini have reportedly filed a lawsuit, claiming Shrem to be owing them $26 million worth of Bitcoin. The fund was believed to have been liquidized via the purchases of Maseratis, powerboats and other luxury items. Shrem has been denying these accusations since 2012.

The attorneys of both sides have separately filed a document to a federal court in New York to willingly drop any charges regarding the case. The document further stated that the twins will cover all legal expenses from their side and confirmed that “The case will not be reopened.”

The 2 parties have in fact reached an agreement on settling the lawsuit back on April 5th, 2019. However, they were granted a 30-day period to “fully effectuate” the settlement, with the right to proceed to trial if fulfillments are not met.

“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. I’m thankful for Brian Klein and my legal team and pleased to have this case behind me,” Shrem further expressed regarding the announcement. The Winklevoss’ attorney hasn’t made any comments regarding the latest news about the lawsuit drop.

Last month, the twins has reportedly stated that Facebook entering the market is a positive sign. Aside from that, they added that Facebook’s tight-lipped project would herald something more than just social networking.

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