DCG and Silbert have denied that the promissory observe was a sham. Of their motions to dismiss, legal professionals for DCG and Silbert claimed that the observe was absolutely vetted and binding, including that, along with the observe, DCG transferred lots of of hundreds of thousands of {dollars} and property into Genesis to fill the outlet in its steadiness sheet. The tweets reassuring traders of Genesis’ “robust” steadiness sheet, they argued, had been merely “company puffery” – not lies.
