Genesis Seeks $20.9M From ‘Bitcoin Jesus’ Over Crypto Choices Trades That Weren’t Settled

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A unit of Genesis World, the crypto lender that filed for bankruptcy protection in New York last week, claims blockchain-industry veteran and Bitcoin Money (BCH) backer Roger Ver – typically known as “Bitcoin Jesus” based mostly on his early evangelism for the {industry} – didn’t settle cryptocurrency choices trades.

The allegation in opposition to Ver by GGC Worldwide Ltd. was contained in a Jan. 23 submitting to the New York State Supreme Court docket in Manhattan.

Based on the Genesis website, GGC Worldwide is a British Virgin Islands firm, wholly owned by Genesis Bermuda Holdco Restricted, that carries out spot buying and selling exercise and hedges publicity with derivatives on digital property. Genesis Bermuda Holdco Restricted, in flip, is a unit of Genesis World Holdco LLC, one of many entities included in final week’s chapter submitting, in accordance with a document presented in the case.

Based on the submitting, GGC Worldwide seeks “cash damages for defendant’s failure to settle cryptocurrency choices transactions that expired on Dec. 30, 2022, in an quantity to be decided at trial however a minimum of $20.9 million.”

Ver didn’t instantly reply to requests for remark despatched through electronic mail and Telegram.

A Genesis press consultant declined to remark.

Genesis is a subsidiary of Digital Foreign money Group (DCG), a crypto conglomerate that additionally owns CoinDesk.

CORRECTION (4:21 UTC): After preliminary publication of this story, Genesis corrected faulty info that had been posted on its web site relating to the possession of GGC Worldwide Restricted. Based on the up to date info, GGCI is a unit of Genesis Bermuda Holdco Restricted, not Genesis World Capital, as beforehand reported.

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