Ver slammed the cryptocurrency exchange, saying it “can’t ask its clients to play a ‘Heads clients lose, tails Genesis wins’ game.”
Roger Ver, an early Bitcoin adopter and the executive chair of Bitcoin.com, has stated that he has “sufficient funds” to pay Genesis Global following a lawsuit filed by the now-bankrupt crypto broker’s unit, GGC International.
The proponent of Bitcoin Cash stated that he is happy to pay the amount owed, but that the agreement requires Genesis to remain solvent. Ver claimed in a new Reddit post that Genesis failed to provide him with financial assurances.
After weeks of new fundraising efforts, the Digital Currency Group broker and lending desk declared bankruptcy. According to court documents, it has more than $150 million to fund its restructuring efforts.
Ver is said to owe Genesis approximately $21 million.
Ver, formerly known as “Bitcoin Jesus,” claimed that recent events have called Genesis’ financial information into question. He even claimed that the cryptocurrency broker refused to clarify the information it had given him and instead chose to sue.
Genesis was accused by the Bitcoin evangelist of causing “discrepancies between the valuation of customer collateral and their own digital assets.”
“Genesis cannot expect its customers to play a “heads clients lose, tails Genesis wins” game. Genesis appears to have crossed the solvency line at least once since last June.”
GCC filed the suit against Ver earlier this week in the New York State Supreme Court, accusing the blockchain industry veteran of failing to settle crypto options transactions that expired on December 30. Ver was given a total of 20 days to respond to the summons, failing which he will be forced to pay the full amount by default.
This isn’t the first time Ver has been involved in a payment-related controversy. Last summer, he made headlines for allegations of debt default. The CEO of the company, Mark Lamb, stated that Ver owes the company $47 million in USDC stablecoin and is bound by a written contract, and that he has received a default notice for the same.
Ver, on the other hand, strongly denied the allegations, claiming that the company owed him money.