Genesis Seeks $20.9M From ‘Bitcoin Jesus’ Over Crypto Options Trades That Weren’t Settled
A unit of Genesis Global Capital, the crypto lender that filed for bankruptcy protection in New York last week, claims longtime blockchain-industry veteran and Bitcoin Cash (BCH) backer Roger Ver – sometimes referred to as “Bitcoin Jesus” based on his early evangelism for the industry – failed to settle cryptocurrency options trades.
The allegation against Ver by GGC International Limited was contained in a Jan. 23 filing to the New York State Supreme Court in Manhattan.
According to the Genesis web site, GGC International Limited is a British Virgin Islands company, wholly owned by Genesis Global Capital, that carries out spot trading activity and hedges exposure with derivatives on digital assets.
According to the filing, GGC seeks “money damages for defendant’s failure to settle cryptocurrency options transactions that expired on Dec. 30, 2022, in an amount to be determined at trial but no less than $20.9 million.”
Ver didn’t immediately reply to requests for comment sent via email and Telegram.
A Genesis press representative declined to comment.
Genesis is a subsidiary of Digital Currency Group (DCG), a crypto conglomerate that also owns CoinDesk.