Genesis claims default, sues Roger Ver for  million

Genesis claims default, sues Roger Ver for $20 million


Bitcoin Financial Advocate (BCH), roger seeis to be has been processed and crypto lending company Genesis’ unit for unsettled crypto options worth $20.8 million.

GGC International, part of the cash lender, filed a lawsuit against Ver in New York State Supreme Court in January starting in December.

Ver was given 20 days to respond to the summons. If the BCH lawyer does not respond within this period, he will have to pay the full amount free of charge. At the time of writing, BCH’s defender has yet to respond to the lawsuit.

Part of the case filed against Roger Ver. Source: New York Supreme Court

Genesis website it confirms that GGC International is a company based in the British Virgin Islands. The company is owned by Genesis Bermuda Holdco Limited, under Genesis Global Holdco, an entity included in the bankruptcy filing.

Roger Ver did not respond to Cointelegraph’s request for comment at the time of writing.

Last year, See also made headlines for allegedly failing to pay the debt. CoinFLEX CEO Mark Lamb said that Ver owes the company $47 million in USD Coin (USDC) and was bound by a written contract. On June 28, Ver also denied these claims without naming the company directly.

On January 20, the cryptocurrency lender presented bankruptcy in the Southern District of New York. The company has begun a court-supervised restructuring to move the deal forward. The process will be led by a special committee that aims to provide the best results for Genesis customers and Gemini Earn users.

Meanwhile, Genesis creditors are looking at Digital Currency Group (DCG), the parent company of Genesis Global. On January 24, Genesis creditors filed a class-action lawsuit. against DCG and its founder and CEO, Barry Silbert. Lenders alleged that the company violated federal securities laws by issuing unregistered securities.