DCG Appoints First Chief Legal Officer Amid Legal Challenges
Digital Currency Group (DCG) has made a significant move by appointing its first-ever chief legal officer, Aimie Killeen, as it faces legal challenges, including a lawsuit from New York’s Attorney General.
Killeen, who previously served as chief legal officer at Billtrust, a software and payments company, will start her new role on May 1. She will be responsible for overseeing international legal matters, mergers and acquisitions, and compliance for DCG.
The decision to bring Killeen on board comes at a crucial time for DCG, as the company has been dealing with legal issues, including the bankruptcy of its subsidiary Genesis following the collapse of the FTX exchange in January 2023.
In addition to the bankruptcy, DCG is currently facing a lawsuit alleging investor fraud from New York AG Letitia James. The lawsuit claims that DCG concealed losses from investors related to Gemini Earn, defrauding them of $3 billion. It also alleges that DCG and CEO Barry Silbert hid financial irregularities through a promissory note between the parent company and Genesis.
The lawsuit seeks to bar Gemini, Genesis, and DCG from financial investment activities in New York and to obtain compensation for investors and recovery of any unlawfully acquired profits.
DCG CEO Barry Silbert expressed his confidence in Killeen’s ability to navigate the legal challenges the company is facing, stating, “We are pleased to welcome Aimie to DCG’s leadership team as we execute on our growth plans while we continue to navigate the industry’s evolving landscape.”
As DCG continues to grapple with legal challenges, the appointment of Aimie Killeen as chief legal officer signals the company’s commitment to addressing these issues and moving forward with its growth plans.
