Genesis Sues Roger Ver for  Million Over Unsettled Crypto Options

Genesis Sues Roger Ver for $20 Million Over Unsettled Crypto Options

Roger VerBitcoin Cash evangelist (BC Extension), was sued by a division of crypto lending company Genesis over unpaid cryptocurrency options in the amount of $20.8 million.

On January 23, GGC International, a branch of the bankrupt crypto lender, ha open case vs. Ver in New York State Supreme Court, alleging that the BCH evangelist failed to settle cryptocurrency options transactions that expired on December 30th.

Ver was given a total of 20 days to respond to the summons. If the BCH supporter does not respond within that time, he will having to pay the total amount in default. As of this writing, BCH’s defender has yet to respond to the lawsuit.

Excerpt from the case filed against Roger Ver. Source: New York Supreme Court

The website of Genesis reports that GGC International is a company based in the British Virgin Islands. The business is owned by Genesis Bermuda Holdco Limited, under Genesis Global Holdco, a corporation that has filed for bankruptcy.

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

Last year, Ver flew respectful information even for the alleged failure to pay the debt. CoinFLEX CEO Mark Lamb said Ver owes the company $47 million in stablecoins (USDC), bound by a written contract. On June 28, Ver also denied these claims, although without naming the company directly.

On January 20, the crypto lender filed for bankruptcy under Chapter 11 in the Southern District of New York. The company has begun a court-supervised restructuring to continue the business. The process will be led by a special committee that aims deliver better results to Genesis customers and Gemini Earn users.

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