BTC

$95471.214

-2.05%

ETH

$3287.971

-2.08%

XRP

$2.216

-1.68%

BNB

$650.988

-1.93%

News

Roger Ver Says He Has Funds To Pay $21 Million To Genesis, But He Doesn’t Have To

January 26, 2023 - Around 2 mins mins to read

Key Points:

  • In response to Genesis’ affiliate GGC International Limited’s claim that he failed to settle over $21 million in cryptocurrency options transactions, Bitcoin.com CEO Roger Ver, often known as “Bitcoin Jesus,” claims to have the cash to make payment.
  • Ver received a court summons from GGC International Limited on Tuesday. Ver said that he was “glad to pay what I genuinely owe” on social media.
  • Ver said that after asking Genesis for “assurances of their solvency,” they responded with financial data that he subsequently questioned.
‘Bitcoin Jesus’ Roger Ver claimed to have “sufficient funds” to compensate the now-bankrupt cryptocurrency broker Genesis after its affiliate GGC International Limited claimed he had not paid nearly $21 million in cryptocurrency options transactions. However, he argued that he was not required to do so.
Roger Ver Says He Has Funds To Pay $21 Million To Genesis, But He Doesn’t Have To

Ver received a court summons from GGC International Limited on Tuesday. Ver remarked in a Reddit post:

“I have sufficient funds on hand to pay Genesis the sums allegedly owed, and I’m happy to pay what I actually owe.”

Ver commented on the post yesterday before sharing a screenshot of it on Twitter on Wednesday morning.

The accusations against him were detailed in a summons that GGC International, a division of Genesis Global, sent to the New York State Supreme Court on Monday. Ver allegedly owes the business $20,869,788 for failing to settle bitcoin option trades that were due to expire on December 30.

Roger Ver Says He Has Funds To Pay $21 Million To Genesis, But He Doesn’t Have To

Last Monday, the company’s loan division submitted a bankruptcy petition to the Southern District of New York’s bankruptcy court. The company claimed to have more than $150 million in cash on hand at the time, claiming this would give it “ample liquidity” to run its business operations and assist the restructuring process.

Ver stated that after asking Genesis for assurances of their solvency, they responded with financial data that he subsequently questioned. He said that the company objected and sued.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News

Bitcoin.com

Genesis

GGC International Limited

Roger Ver

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Roger Ver Says He Has Funds To Pay $21 Million To Genesis, But He Doesn’t Have To

Key Points:

  • In response to Genesis’ affiliate GGC International Limited’s claim that he failed to settle over $21 million in cryptocurrency options transactions, Bitcoin.com CEO Roger Ver, often known as “Bitcoin Jesus,” claims to have the cash to make payment.
  • Ver received a court summons from GGC International Limited on Tuesday. Ver said that he was “glad to pay what I genuinely owe” on social media.
  • Ver said that after asking Genesis for “assurances of their solvency,” they responded with financial data that he subsequently questioned.
‘Bitcoin Jesus’ Roger Ver claimed to have “sufficient funds” to compensate the now-bankrupt cryptocurrency broker Genesis after its affiliate GGC International Limited claimed he had not paid nearly $21 million in cryptocurrency options transactions. However, he argued that he was not required to do so.
Roger Ver Says He Has Funds To Pay $21 Million To Genesis, But He Doesn’t Have To

Ver received a court summons from GGC International Limited on Tuesday. Ver remarked in a Reddit post:

“I have sufficient funds on hand to pay Genesis the sums allegedly owed, and I’m happy to pay what I actually owe.”

Ver commented on the post yesterday before sharing a screenshot of it on Twitter on Wednesday morning.

The accusations against him were detailed in a summons that GGC International, a division of Genesis Global, sent to the New York State Supreme Court on Monday. Ver allegedly owes the business $20,869,788 for failing to settle bitcoin option trades that were due to expire on December 30.

Roger Ver Says He Has Funds To Pay $21 Million To Genesis, But He Doesn’t Have To

Last Monday, the company’s loan division submitted a bankruptcy petition to the Southern District of New York’s bankruptcy court. The company claimed to have more than $150 million in cash on hand at the time, claiming this would give it “ample liquidity” to run its business operations and assist the restructuring process.

Ver stated that after asking Genesis for assurances of their solvency, they responded with financial data that he subsequently questioned. He said that the company objected and sued.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Harold

Coincu News