Genesis Drags Roger Ver To Court Over $20M Unsettled Crypto Options Trades
Roger Ver, the Bitcoin Cash (BCH) advocate, is facing legal charges after the crypto lending firm Genesis sued him over $20.8 million worth of unsettled crypto options transactions. The BCH supporter, known by the moniker “Bitcoin Jesus,” was charged at the New York Supreme Court on January 23.
‘Bitcoin Jesus’ In Legal Row
Per reports, the charge against Roger Ver was filed by GGC International, a unit of Genesis, over claims that the BCH advocate could not settle the crypto options trade, which expired on December 30. Meanwhile, Ver has 20 days to appear before the New York Supreme Court and answer the summons.
If the BCH supporter fails to honor the court order within the given time frame, he must pay the total amount by default. According to the company’s official website, GGC International is based in the British Virgin Islands and held by Genesis Bermuda Holdco Ltd, a company included in the new court filing against Ver.
Not The First Time
Furthermore, this is not the first time the BCH loyalist has made the headlines. In 2022, the CEO of CoinFLEX, Mark Lamb, disclosed that Ver owed his company $47 million in USDC, which was bound by a written contract between them.
However, Ver debunked Lamb’s claim on June 28 and denied any agreement between him and CoinFLEX. Genesis filed for Chapter 11 bankruptcy proceedings on January 20 in the Southern District of New York.
Accordingly, the company was under court supervision as it moved to restructure its operations to boost its business again. Moreover, the restructuring process was led by a committee expected to provide the result of the move in the interest of Genesis customers and Gemini Earn Users.
Meanwhile, Genesis creditors filed the lawsuit at the US District Court for the District of Connecticut against DCG and its CEO, Barry Silbert, alleging that the company has violated the US federal securities regulations through the sale of unregistered securities.
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