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“Bitcoin Jesus” in Debt With a Bankrupt Crypto Broker

“Bitcoin Jesus” in Debt With a Bankrupt Crypto Broker

In the early days of Bitcoin an investor and advocate named Roger Ver showed strong support for the digital currency in his belief of its potential to change the financial world. He’s helped start up many projects and has been a full supporter from the beginning. Many consider him a key influencer in the Bitcoin community and even with all the controversies around him he has still contributed so much and dedicated his life to the underlying technology of Bitcoin that he got the name of “Bitcoin Jesus”.

Allegations Were Made

GGC International, a subsidiary of Genesis Global, filed in New York State supreme court a Summon with accusations against Roger Ver. They claim he owes them a debt for $20,869,788 due to his “failure to settle cryptocurrency options transactions” that had reached its expiring date 30th of December. But on the 20th of January the digital currency group filed for bankruptcy and it was revealed in court that they had more than 150 million fund it´s restructuring efforts.

“I have sufficient funds on hand to pay Genesis the sums allegedly owed, and I’m happy to pay what I actually owe. However, Genesis was required by our agreement to remain solvent—as Genesis can’t ask its clients to play a “heads clients lose, tails Genesis wins” game,” he wrote in response to a post in the Bitcoin subreddit asking, “Did Roger Ver get rekt?”

Not the Only Feud

If this all sounds familiar it’s because this is not the only time Ver has been in one of these situations. The cryptocurrency trading platform CoinFLEX halted withdrawals due to liquidity issues, which was not an uncommon thing to happen at the time, and they were struggling with many bankruptcies. The CEO of CoinFLEX stated that Roger Ver owed the company $47 million and he had in fact gotten a notice for not paying in time. Ver called it out as blatantly false and that it was the other way around. 

“Not only do I not have a debt to this counter-party, but this counter-party owes me a substantial sum of money, and I am currently seeking the return of my funds,” he wrote on Twitter.

“He is denying that the debt pertains to him and so we felt the need to clarify to the public that yes – the debt is 100% related to his account,” Said Lamb while explaining that they´ve already sent out the notice of default.