Share this article
Genesis Seeks $20.9M From ‘Bitcoin Jesus’ Over Crypto Options Trades That Weren’t Settled
The court action seeks damages from Bitcoin Cash backer Roger Ver related to the alleged failure to settle cryptocurrency options transactions that expired on Dec. 30, 2022.
Updated Jan 25, 2023, 6:57 p.m. Published Jan 24, 2023, 10:11 p.m.
A unit of Genesis Global, the crypto lender that filed for bankruptcy protection in New York last week, claims blockchain-industry veteran and Bitcoin Cash (BCH) backer Roger Ver – sometimes referred to as “Bitcoin Jesus” based on his early evangelism for the industry – failed to settle cryptocurrency options trades.
The allegation against Ver by GGC International Ltd. was contained in a Jan. 23 filing to the New York State Supreme Court in Manhattan.
STORY CONTINUES BELOW
According to the Genesis website, GGC International is a British Virgin Islands company, wholly owned by Genesis Bermuda Holdco Limited, that carries out spot trading activity and hedges exposure with derivatives on digital assets. Genesis Bermuda Holdco Limited, in turn, is a unit of Genesis Global Holdco LLC, one of the entities included in last week's bankruptcy filing, according to a document presented in the case.
According to the filing, GGC International seeks “money damages for defendant’s failure to settle cryptocurrency options transactions that expired on Dec. 30, 2022, in an amount to be determined at trial but no less than $20.9 million.”
Ver didn’t immediately reply to requests for comment sent via email and Telegram.
A Genesis press representative declined to comment.
Genesis is a subsidiary of Digital Currency Group (DCG), a crypto conglomerate that also owns CoinDesk.
CORRECTION (4:21 UTC): After initial publication of this story, Genesis corrected erroneous information that had been posted on its website regarding the ownership of GGC International Limited. According to the updated information, GGCI is a unit of Genesis Bermuda Holdco Limited, not Genesis Global Capital, as previously reported.
Більше для вас
Що варто знати:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Solana’s Drift Launches v3, With 10x Faster Trades
With v3, the team says that about 85% of market orders will fill in under half a second, and liquidity will deepen enough to bring slippage on larger trades down to around 0.02%.
What to know:
- Drift, one of the largest perpetuals trading platforms on Solana, has launched Drift v3, a major upgrade meant to make on-chain trading feel as fast and smooth as using a centralized exchange.
- The new version will deliver 10-times faster trade execution thanks to a rebuilt backend, marking the largest performance jump the project has made so far.
Top Stories
