CoinFlex CEO says withdrawals unlikely to resume on Thursday

Crypto exchange CoinFlex is “unlikely” to resume withdrawals on Thursday, June 30 as it had originally hoped, according to its CEO Mark Lamb, as the company continues to search for buyers of its $47 million bad debt.  Speaking to CNBC on Wednesday, Lamb said more time was needed before it could reopen the platform for … Read more

Roger Ver denies CoinFLEX CEO’s claims he owes firm $47M USDC

Roger Ver, an early Bitcoin investor and Bitcoin Cash proponent, has pushed against claims from crypto investment platform CoinFLEX regarding an alleged $47-million debt. In a Tuesday tweet, Ver — not mentioning CoinFLEX by name — said he had not “defaulted on a debt to a counter-party,” and alleged the crypto firm owed him “a … Read more

CoinFLEX recovery plan includes tokenized bad debt and more yields

Crypto investment platform CoinFLEX aims to rectify its liquidity shortage and restart user withdrawals by selling off bad debt through a new $47 million token offering. The new token is known as Recovery Value USD (rvUSD) and will be worth $1 each. It is designed to help CoinFLEX recover $47 million in losses incurred by … Read more