Bitcoin Jesus fails to settle $20.9 million in crypto options trades for bankrupt lender Genesis Global

  • Bitcoin Jesus, Roger Ver has failed to settle crypto options transactions that expired on December 30. 
  • Bankrupt crypto lender Genesis Global has sued the early Bitcoin evangelist for an amount to be determined at trial, but no less than $20.9 million. 
  • The allegation against Ver is contained in a January 23 filing to the New York State Supreme Court by GGC International Ltd.

Bitcoin Jesus Roger Ver has found himself in legal trouble with bankrupt crypto lender Genesis Global. Genesis has summoned Ver to repay at least $20.9 million in damages after the Bitcoin evangelist failed to settle crypto options transactions before the payment deadline. 

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Bitcoin evangelist Roger Ver finds himself in legal trouble with Genesis

Roger Ver, an early Bitcoin evangelist, popularly known as “Bitcoin Jesus,” has been sued by bankrupt crypto lender Genesis Global. Genesis has given Ver 20 days to answer the January 23 summons, after which he will be forced to pay reparations by default.

As crypto lender Genesis’ bankruptcy unfolds, the filing was submitted by a British Virgin Islands-domiciled affiliate of Genesis, 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 Genesis’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 a British Virgin Islands company, wholly owned by Genesis Bermuda Holdco Limited, a unit of Genesis Global Holdco LLC, one of the entities included in the bankruptcy filing.