before that bitcoin (btc) evangelists and now Bitcoin Cash (BCH) Promoter Roger Ver has been sued by now-bankrupt crypto lender Genesis after failing to meet a $21m margin call.
The court action taken by Genesis relates to a crypto options trading that collapsed late last year, and Roger Ver – often referred to as “Bitcoin Jesus” for his early promotion – allegedly never settled. Happened.
Genesis is seeking money damages “in an amount to be determined at trial, but not less than $20.9 million, for the defendants’ failure to settle a cryptocurrency options transaction expiring on December 30, 2022,” trial Admission Told.
The filing was made by GGC International Limited, an entity registered in the British Virgin Islands that is part of Genesis’ corporate structure.
Origin filed for bankruptcy 19 under Chapter 11 of the US Bankruptcy Code. A company announcement at the time made it clear that the filing does not apply to Genesis subsidiaries involved in derivatives and spot trading as well as custody businesses.
Genesis and its affiliated entities are a part of Barry Silbert’s vast crypto conglomerate digital currency group (DCG).
Roger Ver has yet to comment on the lawsuit.
On Twitter, some users poked fun at Ver, saying he couldn’t pay off his loan because he shied away from BTC and instead “went full crypto daizen:”
Another case related to Ver
The Genesis lawsuit comes months after Ver was served default notices over unpaid loans by crypto derivatives exchange and yield platform Coinflex.
According to Coinflex CEO Mark Lamb, Ver owes the exchange $47 million in fixed currency usdc, The CEO said that his exchange had “a written contract [Ver] obliging them to personally guarantee any negative equity on their Coinflex account and regularly top up margin.”
Lamb said at the time, “He is denying that the loan is related to him and so we felt the need to clarify to the public that yes – the loan is 100% related to his account.” of default.
Roger Ver has publicly denied that he owes Coinflex any money, and has even claimed that it is the exchange that owes him money:
Bitcoin Crypto Related Post