Cryptocurrency investor Roger Ver has broken his silence on the lawsuit brought against him by Genesis Global Capital (GGC). Roger Ver is popularly known as Bitcoin Jesus and is an early biotin adopter. He is also the executive chair of Bitcoin.com. Ver allegedly owes $21 million to GGC.
In a Reddit post, Ver spoke about the lawsuit and his financial status. He claimed that he has sufficient funds to pay for the alleged debt and that he had made multiple attempts to pay the debt over the past few months. Ver also argued that the lawsuit was an attempt by Genesis to pressure him into paying more than he owed.
“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 said.
However, many users called out Roger Ver for using Genesis’ insolvency as an excuse to not pay what he owes to the platform.
“Are they holding some collateral of yours that could fully cover the sums owed or was this transaction un/under collateralized? If theres no collateral trying to get out of paying seems pretty scummy,” wrote one user on Reddit thread.
In a lawsuit filed in the Supreme Court of the New York State, Genesis has charged Roger Ver with failing to clear the negative balance on his margin trading account.
Ver went on to explain that he had been attempting to negotiate with Genesis since the beginning of the dispute, but that those negotiations had been unsuccessful. He claimed that he had offered to pay half of the debt, but that Genesis had refused to accept this offer.
Ver also revealed that he had attempted to pay the debt in cryptocurrency, but that Genesis had refused to accept payment in this form. He said that he was willing to pay the debt in any form that Genesis was willing to accept, but that the company had been unwilling to negotiate.
