Winklevoss Capital settles with ex-BitInstant CEO Charlie Shrem; Winklevoss Capital had alleged Shrem stole 5K bitcoin in 2012, worth ~$26M at today's prices (Marc Hochstein/CoinDesk)

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Cameron and Tyler Winklevoss have settled their lawsuit against fellow early bitcoin entrepreneur Charlie Shrem, whom they previously claimed owed them $26 million worth of the cryptocurrency.

In an April 5 court filing, Judge Jed Rakoff of the U.S. District Court for the Southern District of New York dismissed the case, explaining that the parties had informed the court they had reached a settlement.

However, both parties have the right to reopen the cause and proceed to trial within 30 days, or by May 5, “if the settlement is not fully effectuated,” the judge wrote.

The terms of the settlement are confidential, Brian Klein, Shrem’s lawyer, told CoinDesk.

According to a separate filing by the attorney for the twins’ Winklevoss Capital Fund (WCF), the plaintiff in the case, “WCF and Shrem will each bear their own attorneys’ fees and costs. The case will not be reopened.”

In a statement provided to CoinDesk, Shrem said:

“From day one, I’ve maintained the allegations are bogus, and they are of course. After their attorney was sanctioned and they were ordered to pay my legal fees twice, we recently reached a confidential resolution, and I’m dismissed from the case. I’m thankful for Brian