Bitcoin Cash (BCH) evangelist Roger Ver has been sued by a unit of crypto lending firm Genesis over $20.8 million in unpaid cryptocurrency options.
Bankrupt crypto lender GGC International filed a lawsuit against Ver in New York State Supreme Court on Jan. 23, alleging that the BCH evangelist failed to settle crypto options transactions that expired on Dec. 30.
Ver was given a total of 20 days to respond to the subpoena. If the BCH backer does not respond within that time, they will obliged to pay the total amount by default. As of this writing, the BCH proponent has not yet responded to the lawsuit.
The Genesis website reports that GGC International is a company based in the British Virgin Islands. The business is owned by Genesis Bermuda Holdco Limited, under Genesis Global Holdco, an entity filed for bankruptcy.
At the time of writing, Roger Ver did not respond to Cointelegraph’s request for comment.
Last year, Ver also hit the headlines for allegations of default on a debt. CoinFLEX CEO Mark Lamb said Ver owes the company $47 million in stablecoins (USDC), bound by a written contract. On June 28, Ver also denied these claims, though without directly citing the company.
On Jan. 20, the crypto lender filed for Chapter 11 bankruptcy in the Southern District of New York. The company has begun a court-supervised restructuring to continue the business. The process will be led by a special committee which aims to provide an optimal result for both Genesis customers and Gemini Earn users.
Meanwhile, Genesis creditors are targeting Digital Currency Group (DCG), parent company of Genesis Global. On January 24, Genesis creditors filed a securities class-action lawsuit against DCG and its founder and CEO, Barry Silbert. The creditors allege that the company violated federal securities laws by offering unregistered securities.
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