Digital Currency Group (DCG) has appointed Aimie Killeen as its first-ever chief legal officer as it faces legal challenges, including a lawsuit from New York’s Attorney General. Killeen, who previously served as chief legal officer at Billtrust, will start her new role on May 1, overseeing international legal matters, mergers and acquisitions, and compliance. The appointment comes as DCG grapples with recent legal issues, including the bankruptcy of its subsidiary Genesis following the collapse of FTX exchange.
Prior to her role at Billtrust, Killeen spent nine years at Australian law firm Ashurst and then became a top lawyer at DirectCash, a financial services company. After DirectCash was acquired by CardTronics, an ATM manufacturer, she held the position of executive vice president. DCG’s decision to hire Killeen reflects the need to strengthen its legal team in response to the current legal challenges it is facing, particularly the lawsuit alleging investor fraud filed by the New York Attorney General against CEO Barry Silbert.
In response to the lawsuit, CEO Silbert has sought to dismiss the allegations of investor fraud, which claim that DCG concealed losses from investors tied to Gemini Earn, defrauding them of $3 billion. The lawsuit also alleges that DCG and Silbert hid financial irregularities through a promissory note between the parent company and Genesis, their subsidiary. The legal battle with the New York Attorney General is aiming 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.
As DCG continues to navigate the legal challenges it is facing, the appointment of Aimie Killeen as chief legal officer is a strategic move to strengthen its leadership team and ensure effective management of international legal matters, mergers and acquisitions, and compliance. The firm’s CEO Barry Silbert expressed his confidence in Killeen’s abilities and welcomed her to the leadership team as they work towards executing growth plans amidst an evolving industry landscape. The legal expertise and experience that Killeen brings to the table will be crucial in managing the legal complexities and risks that DCG is currently dealing with.
With Aimie Killeen on board as the new chief legal officer, DCG is positioning itself to address the legal challenges it is facing head-on and to navigate the complexities of the current legal landscape in the cryptocurrency industry. The appointment comes at a crucial time for DCG, as it grapples with the aftermath of the bankruptcy of its subsidiary Genesis and the legal implications of the lawsuit filed by the New York Attorney General. Killeen’s experience in handling complex legal matters in the financial services industry will be instrumental in guiding DCG through these challenging times and ensuring compliance with relevant laws and regulations. CEO Barry Silbert’s decision to bring Killeen on board reflects the firm’s commitment to strengthening its legal team and addressing legal issues with diligence and expertise.
