Genesis subsidiary sues ‘Bitcoin Jesus’ for $20.86M News ▸ Bitcoin · Bitcoin Cash ▸ Bankruptcy
Genesis subsidiary sues ‘Bitcoin Jesus’ for $20.86M
The embattled firm alleged that Ver failed to settle cryptocurrency options trades that expired on Dec. 30, 2022.
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Updated: Jan. 25, 2023 at 6:39 am UTC
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A subsidiary of bankrupt crypto lender Genesis — GGC International Limited — filed a $20.86 million claim against Bitcoin Cash (BCH) proponent Roger Ver, according to a Jan. 23 court filing.
The embattled firm alleged that Ver failed to settle cryptocurrency options trades that expired on Dec. 30, 2022.
The bankrupt company also wants the court to award it the fees it expended in bringing the case against Ver.
Ver has to answer the allegations within the next 20 days — otherwise, a judgment would be taken against him by default.
GGC is a British Virgin Islands company fully owned by Genesis.The company carries out spot trading activity and enters into derivatives referencing digital assets as a principal, according to the bankrupt lender website.
Meanwhile, crypto exchange CoinFLEX previously accused Roger Ver of owing it $47 million USDC. The exchange later filed a $84 million claim against the investor — Ver denied these allegations.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Bitcoin Cash
$539.935
Bitcoin Cash (BCH) is a cryptocurrency created via a fork of the Bitcoin network.
Genesis
Genesis is an institutional digital asset markets and a full-service digital currency prime brokerage providing a single point of access for select qualified individuals and global institutional investors.
CoinFLEX
CoinFLEX is a cryptocurrency exchange for spot and margin trading that founded in 2019.
Roger Keith Ver, born on 27 January 1979, stands out as an early Bitcoin investor and staunch promoter of Bitcoin-related startups.