Winklevoss Twins and Charlie Shrem Settle Long-Running Legal Fight Over 2012 Bitcoin Deal
The Winklevoss twins and Charlie Shrem have agreed to end a long-running legal fight over 5,000 missing bitcoins after reaching a confidential settlement.
Cameron and Tyler Winklevoss have reached an agreement with bitcoin (BTC) entrepreneur Charlie Shrem to end a lawsuit the twins filed against Shrem last year. The news was revealed in court documents filed on April 16.
The twins, who founded crypto exchange Gemini, had accused Shrem of stealing 5,000 bitcoin (worth about $26.1 million at press time) and using the crypto to buy Maseratis, powerboats and other luxury goods. He denied the allegations, which dated back to 2012.
Attorneys for both parties have signed the document filed with a federal court in New York, which says the entire civil action is being voluntarily dismissed with prejudice. It adds that the Winklevoss Capital Fund and Shrem will pay their own legal costs and fees, concluding: “The case will not be reopened.”
In an earlier court document filed on April 5, reviewed by Cointelegrpah, both parties confirmed that they had reached a settlement. At the time, they were given 30 days to “fully effectuate” their agreement, with an option of proceeding to trial if it was not fulfilled.
Following the case’s dismissal, Shrem told Cointelegraph in a statement today:
“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,” he added.
The legal firm representing the Winklevoss twins has not replied to Cointelegraph’s request for comment by press time.
As previously reported, a judge had ordered the Winklevoss brothers to pay Shrem $45,000 after the District Court of the Southern District of New York reduced the scope of the twins’ claims.