Genesis Says ‘Bitcoin Jesus’ Owes Millions From Unsettled Trades | Tech News

Genesis Says ‘Bitcoin Jesus’ Owes Millions From Unsettled Trades

Ver, known to some as “Bitcoin Jesus” for his evangelistic role in the early days of crypto, was named in a court summons in New York on Tuesday by GGC International Limited.

By:BLOOMBERG
| Updated on: Jan 26 2023, 09:07 IST
Bitcoin
Genesis Says ‘Bitcoin Jesus’ Owes Millions From Unsettled Trades. (REUTERS)

A Genesis unit is seeking more than $20 million from Bitcoin Cash backer Roger Ver, alleging that he failed to settle cryptocurrency options transactions that expired in December.

Ver, known to some as “Bitcoin Jesus” for his evangelistic role in the early days of crypto, was named in a court summons in New York on Tuesday by GGC International Limited. The filing included a notice seeking no less than $20.9 million in money damages, in addition to legal costs and expenses.

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Crypto lender Genesis Global Holdco LLC filed for Chapter 11 bankruptcy last week, owing its top 50 creditors more than $3 billion. The firm is controlled by Digital Currency Group, a crypto conglomerate founded in 2015 and once valued at $10 billion.

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Ver could not be reached immediately for comment.

Crypto exchange CoinFlex entered into a similar dispute with Ver last summer, alleging that he had failed to pay $47 million in a margin call, denominated in Circle's USDC stablecoin. Ver said he had no debt to CoinFlex at the time.

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First Published Date: 26 Jan, 08:17 IST
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