- Bitcoin Jesus, Roger Ver has failed to settle crypto options transactions that expired on December 30.
- GGC International Limited, an affiliate of bankrupt crypto lender Genesis has sued the early Bitcoin evangelist for no less than $20.9 million.
- The allegation against Ver is contained in a January 23 filing to the New York State Supreme Court.
Bitcoin Jesus Roger Ver has found himself in legal trouble again with an affiliate of the bankrupt crypto lender Genesis Global. British Virgin Island-based GGC International Limited
has summoned Ver to repay at least $20.9 million in damages after the Bitcoin evangelist failed to settle crypto options transactions with the broker before the payment deadline.
Also read: Jim Cramer warns investors to stay away from crypto: another buy signal for Bitcoin?
Bitcoin evangelist Roger Ver finds himself in legal trouble again
According to the filing, Ver, an early Bitcoin evangelist, popularly known as “Bitcoin Jesus,” has 20 days to answer the January 23 summons, after which he will be forced to pay reparations by default.
The filing was submitted by a British Virgin Islands-domiciled affiliate of Genesis CGC International Ltd, which designated New York Country as the place of trial. The filing stated that the options transactions in question expired on December 30.
If Ver fails to answer the summons, he will be required to repay at least $20,869,788, alongside GGC’s costs, expenses, and attorney’s fees. This is not the first time that the Bitcoin evangelist found himself in legal trouble.
In July, Seychelles-based crypto exchange CoinFlex brought legal charges against the Bitcoin evangelist for $84 million for failing to repay a margin debt.
GGC International Ltd, the firm that brought the allegations against Ver is wholly owned by Genesis Bermuda Holdco Limited. Neither of these, however, appear as debtors on Genesis Global's bankruptcy filling.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Ethereum dips slightly amid Renzo depeg, BlackRock spot ETH ETF amendment
Ethereum (ETH) suffered a brief decline on Wednesday afternoon despite increased accumulation from whales. This follows Ethereum restaking protocol Renzo restaked ETH (ezETH) crashing from its 1:1 peg with ETH and increased activities surrounding spot Ethereum ETFs.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective (INJ) price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
US intensifies battle against crypto privacy protocols following crackdown on Samourai Wallet
CEO Keonne Rodriguez and CTO William Lonergan of Samourai Wallet were arrested by the US Department of Justice (DoJ) on Wednesday and charged with $100 million in money laundering on a count and illegal money transmitting on another count. This move could see privacy-focused cryptocurrencies take a dip.
Near Protocol Price Prediction: NEAR fulfills targets but a 10% correction may be on the horizon
Near Protocol price has completed a 55% mean reversal from the bottom of the market range at $4.27. Amid growing bearish activity, NEAR could drop 10% to the $6.00 psychological level before a potential recovery. A break and close above $7.95 would invalidate the downleg thesis.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?