Roger Ver, known as “Bitcoin Jesus” and a crypto angel investor, is embroiled in a legal tussle with Matrixport, a crypto finance company.
He accuses Smart Vega, a branch of Matrixport, of putting a freeze on his $8 million funds. Furthermore, the lawsuit points to Jihan Wu, a co-founder of Matrixport, as the instigator.
“Bitcoin Jesus” Roger Ver last year sued a subsidiary of Matrixport, founded by Jihan Wu, for $8 million, according to TheBlock. He claimed that the Matrixport froze his funds because he was told that he held responsible for CoinFLEX’s losses. https://t.co/JDMSMNT5oK
— Wu Blockchain (@WuBlockchain) November 6, 2023
According to Ver, Wu obstructed his efforts to take $8 million out of Bit.com, a platform under Smart Vega specializing in derivatives. The reason for blocking his withdrawal? Ver’s alleged role in the downfall of the CoinFlex exchange.
Furthermore, Ver claimed in the legal dispute that Wu took his money to recover from a financial setback when the exchange tanked and needed restructuring.
He defended that he wasn’t the reason for the platform’s downfall and called Wu’s assumptions untrue and unimportant.
Matrixport Denies Ver’s CoinFlex Collapse Allegations
Allegations accused Ver, the investor, of causing CoinFlex to tumble by failing to meet a margin call. In addition, CoinFlex, where Jihan Wu is a creditor, suggested that Ver led to nearly $47 million in losses.
Moreover, In response to Ver’s claims, Matrixport firmly denies them as false. They clarified that they are keeping Ver’s money until legal judgment. The firm stated, “A margin call default caused Roger Ver to face penalties.”
Moreover, legal advice guided Matrixport to hold on to the funds until the laws are clear. They were ready to hand the disputed sum over to a neutral party.
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Additionally, The entire Bitcoin community will keenly observe the battle between Bitcoin Jesus and smart Vega as it knows this is a determining contest for the ownership rights of Bitcoin. This high-risk judicial fight might mark a new chapter in the ever-changing cryptocurrency tale.