Bitcoin Cash (BCH) proponent Roger Ver has been sued by a subsidiary of crypto lender Genesis over $20.8 million in unsettled cryptocurrency options.
GGC International, owned by failed cryptocurrency firm Genesis, filed a lawsuit against Barr in a New York state court on January 23, accusing him of failing to settle a cryptocurrency options trade that expired on December 30. claimed to be.
Barr was given a total of 20 days to respond to the subpoena. If Mr. Barr does not respond within that period, he will be obliged to pay the full amount in default. At the time of writing, Barr has not yet responded to the matter.
Genesis’ website states that GGC International is a company based in the British Virgin Islands. The company is owned by Genesis Bermuda under Genesis Globus, which has filed for bankruptcy.
At the time of writing, Roger Burr did not respond to Cointelegraph’s request for comment.
Last year, Barr also made headlines for his debt troubles with other exchanges. CoinFLEX CEO Mark Lam claimed that Barr owed the company $47 million worth of USD Coin (USDC) and was bound by the contract. On June 28, Mr. Barr refuted these allegations.
On January 20, Genesis filed for Chapter 11 bankruptcy protection in federal court in New York. The company has begun restructuring under court oversight to move the business forward.
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