Bitcoin.com CEO Roger Ver, also known as “bitcoin Jesus," says he has enough funds to pay Genesis after its affiliate GGC International Limited said he failed to settle nearly $21 million in cryptocurrency options transactions.
GGC International Limited issued a court summons on Tuesday to Ver. On social media, Ver said he was “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,” Ver said.
A spokesperson for Genesis declined to comment via email.
Genesis's lending arm filed for bankruptcy protection last week in the U.S. Bankruptcy Court for the Southern District of New York. At the time, the firm said it had more than $150 million in cash on hand to provide “ample liquidity” to support its business operations and facilitate the restructuring process.
Ver said he asked Genesis for “assurances of their solvency” and was provided with financial information that he asked for them to clarify. Ver said Genesis refused and filed suit.
“I look forward to an explanation from Genesis as to how exactly they valued some of the questionable line items, including what appear to be discrepancies between the valuation of customer collateral and their own digital assets,” Ver said.
Genesis is also embroiled in a lawsuit with the Securities and Exchange Commission after the U.S. regulator said both Genesis and Gemini were involved with the unregistered offering and sale of securities through the Gemini Earn lending program.
Ver didn't immediately respond to a request for further comment.
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