Google's Gemini AI and Gemini's Accusations Against Digital Currency Group

By: Eva Baxter

Google has initiated limited trials of its advanced conversational artificial intelligence (AI) product, Gemini, with select companies. On the other hand, US-based crypto exchange platform Gemini has criticised Digital Currency Group (DCG) in a recent court filing for alleged fraudulent actions.

Google has given partial access to Gemini AI, which embraces a collection of large-language models (LLMs) capable of text generation, code and image production and powers chatbots. It hopes to extend Gemini's availability and compete with AI models of OpenAI's scale such as GPT-4. Although Google confirmed Gemini's existence, it has not announced broadened availability for the product yet.

Gemini, the crypto exchange, in a related development, accused DCG of engaging in fraudulent activities in its court filing. The digital platform alleges that DCG devised a $1.1 billion promissory note to cloak significant financial losses spurred by the collapse of Three Arrows Capital. It has further asserted that DCG avoided repaying the $630 million it borrowed from the company. The exchange criticised DCG's proposed recovery rates, calling them 'misleading and deceptive', and expressed its intent to not succumb to unjust practices.

Google is also anticipated to offer Gemini through Google Cloud Vertex AI and already offers consumer-facing AI services through its chatbot, Bard. Simultaneously, the crypto exchange Gemini fights for a fair resolution in the light of the contended fraud claims with DCG.