Winklevoss Twins has been ordered to pay $ 45,000 to Charlie Shrem

Cameron and Tyler Winklevoss are two of the biggest names in cryptocurrency who became two of the first billionaires of Bitcoins in the boom of cryptocurrency. The twins have now been sentenced to pay back $ 45,000 in legal costs triggered by contractor Charlie Shrem as part of an ongoing lawsuit alleging that he had failed to negotiate a series of cryptocurrency purchases promised on their behalf.

For those who do not know it, Charlie Shrem is an entrepreneur and advocate of Bitcoin. In 2011, he co-founded the now-defunct BitInstant start-up, and is one of the founders of the Bitcoin Foundation, of which he was vice-president.

Winklevoss Capital was previously an investor in BitInstant. It was one of the first most public crypto exchanges before it was finally closed in 2013 when Shrem was convicted of breaking the rules against money laundering. ########################################################################################## 39 during his tenure as CEO. As a result of this, Shrem was sent to prison to serve a one – year sentence.

The money order was filed in the US District Court in New York South earlier this week by Judge Jed S. Rakoff, who concluded that Shrem should be reimbursed for the court's previous ruling which gave plaintiffs the ability to seize up to $ 30 million of its badets.

In November, when the first order was rescinded, Shrem then filed a petition for the recovery of legal fees and court costs.

In order to argue that Shrem should not recover his funds, Winklevoss Capital's attorney stated that he was only charged with "De minimis amount" less than $ 5. In the end, however, the court rejected this view that Shrem's claim was invalid even though the judge had estimated that the damages sought should be reduced by 40% as a result of the re-examination of the charges.

Brian Klein, Partner at Baker Marquart LLP m said:

"We are pleased that the judge ruled on Charlie and ordered the WCF to reimburse him for legal fees incurred to quash the WCF's $ 30 million seizure order. This is another big step towards full confirmation.

In conclusion, the court record is the latest in a recent lawsuit that pitted three prominent figures in the cryptocurrency industry and former trading partners.