• A subsidiary of bankrupt crypto lender Genesis, GGC International Limited, has filed a $20.86 million claim against Bitcoin Cash (BCH) proponent Roger Ver.
• The embattled firm alleged that Ver failed to settle cryptocurrency options trades that expired on Dec. 30, 2022.
• Crypto exchange CoinFLEX previously accused Roger Ver of owing it $47 million USDC and later filed a $84 million claim against the investor.
Crypto lender Genesis has been making headlines recently, this time due to a lawsuit filed by its subsidiary GGC International Limited against Bitcoin Cash (BCH) proponent Roger Ver. The embattled firm has filed a $20.86 million claim against Ver, alleging that he failed to settle cryptocurrency options trades that expired on Dec. 30, 2022.
This is not the first time that Ver has been in hot water. Crypto exchange CoinFLEX previously accused him of owing it $47 million USDC. The exchange later filed a $84 million claim against the investor, which Ver denied.
GGC International Limited is a British Virgin Islands company that is fully owned by Genesis. The company carries out spot trading activity and enters into derivatives referencing digital assets as a principal, according to the bankrupt lender website. The company has requested the court to award it the fees it expended in bringing the case against Ver. Ver has been given 20 days to answer the allegations, otherwise a judgment will be taken against him by default.
It remains to be seen how the case will play out, but it is clear that there is a lot at stake for Ver. The crypto space has been rocked by a number of high profile cases recently, and this could be another in a long line of them. It will be interesting to see how the court will rule on the matter and if Ver is indeed liable for the claims brought against him.