The Winklevoss twins reached a settlement with Charlie Shrem on April 16, 2019, declaring that their case against him has been dismissed with prejudice and will not be reopened.
The twins, who founded the Gemini cryptocurrency exchange, originally sued Shrem, the founder of early bitcoin company BitInstant, in November 2018, alleging that Shrem stole 5,000 bitcoin from the pair in 2012. They asserted that Shrem agreed to build a stockpile of cryptocurrency for them at their expense but then came up short by nearly $60,000 in bitcoin at the contemporary market rate, keeping this portion of the hoard secret until its worth grew to the tens of millions of dollars.
As the case proceeded, however, Shrem took an early upper hand. Several days after it was opened, federal judge Jed S. Rakoff ordered the end to a freeze on Shrem’s assets and financial accounts. Shrem’s legal team suggested that a separate person entirely was responsible for the unaccounted crypto assets.
After several months of relative quiet, the digitally-published…