Bitcoin Millionaire Roger Ver Sued by Genesis For $21 Million Debt – Here’s What Went Down

Roger Ver. Source: a relevant video screenshot.

The first Bitcoin (BTC) evangelist and today Bitcoin Cash (BCH) proponent Roger Ver continues to be sued through the now-bankrupt crypto loan provider Genesis after neglecting to meet a $21m margin call.

A legal court action taken by Genesis relates to a crypto options trade that expired late this past year, which Roger Ver – who’s frequently known as “Bitcoin Jesus” for his early evangelism – allegedly never settled.

Genesis seeks “money damages for defendant’s failure to stay cryptocurrency options transactions that expired on 12 ,. 30, 2022, within an add up to be determined at trial but no under $20.9 million,” the suit filing stated.

The filing is made by GGC Worldwide Limited., a business registered within the British Virgin Islands that belongs to Genesis’ corporate structure.

Genesis declared personal bankruptcy under Chapter 11 of america Personal bankruptcy Code on The month of january 19. A comment from the organization at that time managed to get obvious the filing didn’t affect Genesis subsidiaries involved with derivatives and place buying and selling in addition to child custody companies.

Genesis and it is affiliated entities are part of Craig Silbert’s massive crypto conglomerate Digital Currency Group (DCG).

Roger Ver has to date not commented around the suit.

On Twitter, quite a few users poked fun of Ver, stating that he likely couldn’t pay his financial obligations while he moved from BTC and rather “went full crypto degen:”

Second situation involving Ver

The suit from Genesis comes just several weeks after Ver was offered a notice of default through the crypto derivatives exchange and yield platform CoinFLEX over delinquent financial obligations.

Based on Mark Lamb, Chief executive officer of CoinFLEX, Ver owed the exchange $47m within the stablecoin USDC. The Chief executive officer stated that his exchange had “a written hire [Ver] obligating him to personally guarantee any negative equity on his CoinFLEX account and top-up margin regularly.”

“He’s denying the debt relates to him and thus we felt the necessity to clarify towards the public that yes – your debt is 100% associated with his account,” Lamb stated at that time, while adding they have already offered a notice of default.

Roger Ver has openly denied he owes CoinFLEX anything, and it has even claimed that it’s the exchange that owes him money:

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