{"id":543328,"date":"2023-01-25T11:42:02","date_gmt":"2023-01-25T08:42:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/genesis-sues-roger-ver-for-20m-over-unsettled-crypto-options-trades\/"},"modified":"2023-01-25T11:42:02","modified_gmt":"2023-01-25T08:42:02","slug":"genesis-sues-roger-ver-for-20m-over-unsettled-crypto-options-trades","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/genesis-sues-roger-ver-for-20m-over-unsettled-crypto-options-trades\/","title":{"rendered":"# Genesis sues Roger Ver for $20M over unsettled crypto options trades"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3667df9e722\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3667df9e722\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/genesis-sues-roger-ver-for-20m-over-unsettled-crypto-options-trades\/#%E2%80%9D_Genesis_sues_Roger_Ver_for_20M_over_unsettled_crypto_options_trades_%E2%80%9C\" >&#8221; Genesis sues Roger Ver for $20M over unsettled crypto options trades &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Genesis_sues_Roger_Ver_for_20M_over_unsettled_crypto_options_trades_%E2%80%9C\"><\/span>&#8221; Genesis sues Roger Ver for $20M over unsettled crypto options trades &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5a4050f8>Bitcoin Cash (BCH) advocate Roger Ver has sued by a unit of crypto lending firm Genesis over unsettled crypto options amounting to $20.8 million.\u00a0<\/p>\n<p>GGC International, a part of the bankrupt crypto lender,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.offshorealert.com\/ggc-international-ltd-v-roger-ver-summons-with-notice-failure-to-settle-20m-expired-crypto-options\/\">filed<\/a> the suit against Ver in the New York State Supreme Court on Jan. 23, claiming that the BCH proponent has failed to settle crypto options transactions that expired back on Dec. 30. <\/p>\n<p>Ver was given a total of 20 days to answer the summons. Should the BCH advocate fail to answer within that time frame, he will be obliged to pay the total amount by default. At the time of writing, the BCH proponent has not yet responded to the case. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/e828d4f1-f770-45ee-86da-ce8543b0086c.jpg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>A snippet of the case filing against Roger Ver. Source: New York Supreme Court<\/em><\/figcaption><\/figure>\n<p>The Genesis website <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/genesistrading.com\/legal\/regulatory-information\">states<\/a> that GGC International is a company based in the British Virgin Islands. The firm is owned by Genesis Bermuda Holdco Limited, under Genesis Global Holdco, an entity included in the bankruptcy filing.\u00a0<\/p>\n<p>Roger Ver had not responded to Cointelegraph\u2019s request for comment at the time of writing. <\/p>\n<p>Last year, Ver also made headlines for allegations of defaulting on a debt. CoinFLEX CEO Mark Lamb claimed that Ver owes the firm $47 million USD Coin (USDC) and was bound by a written contract. On June 28, Ver also denied these claims without directly mentioning the company. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Genesis bankruptcy case scheduled for first hearing<\/em><\/strong><\/p>\n<p>On Jan. 20, the crypto lender filed for Chapter 11 bankruptcy in the Southern District of New York. The firm began a court-supervised restructuring to move the business forward. The process will be led by a special committee that aims to provide an outcome that is optimal for both Genesis clients and Gemini Earn users. <\/p>\n<p>Meanwhile, Genesis creditors are setting their sights on Digital Currency Group (DCG), the parent company of Genesis Global. On Jan. 24, Genesis creditors filed a securities class action lawsuit against DCG and its founder and CEO, Barry Silbert. The creditors alleged that the firm violated federal securities laws by offering unregistered securities. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/genesis-sues-roger-ver-for-20m-over-unsettled-crypto-options-trades\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Genesis sues Roger Ver for $20M over unsettled crypto options trades &#8220; Bitcoin Cash (BCH) advocate Roger Ver has sued by a unit of crypto lending firm Genesis over unsettled crypto options amounting to $20.8 million.\u00a0 GGC International, a part of the bankrupt crypto lender,\u00a0filed the suit against Ver in the New York State&#8230;<\/p>\n","protected":false},"author":1,"featured_media":543329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/5cd9728d-244c-4dff-aba0-45ee2185e291.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75163,86907,117,55229,70934],"class_list":["post-543328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-cash","tag-roger-ver","tag-business","tag-law","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/543328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=543328"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/543328\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/543329"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=543328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=543328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=543328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}