Tag: coinflex

Sep 24 2022

Crypto Exchange CoinFLEX Plans For Restructuring

Sep 24 2022 Published at Bitcoinist.com under tags  bch coinflex crypto crypto news roger ver

CoinFLEX is one of the crypto exchanges that suffered during the bearish trend and is currently paving for restructuring. Following its filings for reorganization at s Seychelles court, the exchange released its restricting plan. The crypto winter in the year's first half brought severe drought to several crypto assets. As a result, the entire crypto market lost several billions of dollars as the...

Aug 11 2022

CoinFLEX files case for restructuring in Seychelles court

Aug 11 2022 Published at Coinscreed under tags  coinflex news

CoinFLEX, the troubled cryptocurrency exchange has an idea on how to compensate some investors, but not everyone is in favor of it. After ceasing all withdrawals from CoinFLEX in June and then partially restarting them in July, CoinFLEX has submitted a proposal to be reformed to the Seychelles Islands' government. In actuality, the islands are […] The post...

Jul 30 2022

CoinFLEX lowers personnel to decrease expenses by 60%

Jul 30 2022 Published at Coinscreed under tags  coinflex news

According to the exchange, the goal is to stay appropriately scaled for any organization considering a future purchase of or cooperation opportunity with CoinFLEX. A "substantial number" of staff employees have been reduced, according to cryptocurrency exchange CoinFLEX, in an effort to save operational expenses. In a blog post published on Friday, CoinFLEX said it […] The post...

Jul 29 2022

CoinFLEX Makes “Significant” Staff Cuts Due to Recovery Costs

Jul 29 2022 Published at Crypto Briefing under tags  coinflex news

CoinFLEX has announced that it will lay off a significant portion of its team as it attempts to recover from insolvency and compensate users who are unable to withdraw their...

CoinFLEX Lays Off a Significant Portion of its Team to Reduce Costs by 50 – 60%

Summary: The CoinFLEX team has announced that it has laid off a significant portion of its team to cut operational costs by 50 to 60%. CoinFLEX has also made cuts in non-staff costs. The team explained that the cost-cutting was meant to transform the exchange into a leaner business. The CoinFLEXCoinFLEX Resumes Crypto Trading With Limited Withdrawals of Up to 10% of User...

Jul 15 2022

CoinFLEX Resumes Crypto Trading With Limited Withdrawals of Up to 10% of User Funds

Summary: CoinFLEX has announced the resumption of crypto exchange trading services. However, withdrawals will be limited to 10% of user funds as 90% of all users' assets are locked. The CoinFLEX crypto exchange has announced the resumption of previously suspended crypto exchange services. This includes crypto trading and withdrawals. However. crypto withdrawals will be limited to 10% of each user's funds on the...

Jul 14 2022

CoinFLEX Reopens Limited Customer Withdrawals

Jul 14 2022 Published at Crypto Briefing under tags  coinflex liquidity news

Troubled crypto exchange CoinFLEX reopened withdrawals today, allowing users to withdraw 10% of their balance. Customers Can Withdraw 10% of Balance After three weeks of suspended services, CoinFLEX will now...

Just-In: CoinFLEX Allows Users To Withdraw Funds, But There’s A Catch

Jul 14 2022 Published at Coingape under tags  coinflex crypto withdrawls news

Crypto exchange CoinFLEX on Thursday said it will allow users to withdraw 10% of funds from their accounts from July 15, except flexUSD stablecoin. The remaining 90% of funds will remain locked in accounts until further notice. CoinFLEX Starts Withdrawals With 10% Limit Crypto exchange CoinFLEX in an official blog post on July 14 announced...

Jul 13 2022

Vermont joins multistate investigation into Celsius

Vermont has opened investigations into Celsius Network while warning residents to be wary of investing in more CEL tokens. Vermont's Department of Financial Regulation (DFR) said Celsius is "deeply insolvent" and accused it of mismanaging its customers' funds....

Jul 10 2022

CoinFlex Is Suing Roger Ver in HKIAC over $84 Million Deficit

CoinFlex to sue Roger Ver for refusing to pay millions of dollars to CoinFlex for a leveraged position that was liquidated. Traders that wish to leverage their positions are automatically liquidated when they fall below the required threshold.However, Roger Ver was placed under manual margin call. When the fallout of USDT ripped the crypto markets apart, CoinFlex provided Roger Ver with a...

Jul 09 2022

CoinFLEX Starts Arbitration in Hong Kong Against Roger Ver Who Allegedly Owes The Platform $84M

Summary: The team at CoinFLEX has stated that they have a deficit of $84 million originating from 'a large individual customer' that had earlier been identified as Roger Ver. Initially, the deficit was estimated at $47 million, but this value did not include the significant loss in liquidating his significant FLEX coin positions. CoinFLEX has stated that it has started arbitration proceedings in...

Jul 01 2022

This Is Why CoinFlex May Not Resume Crypto Withdrawals This Thursday

Jul 01 2022 Published at Bitcoinist.com under tags  coinflex crypto news withdrawal

Crypto exchange, CoinFLEX might not lift the ban on user withdrawals just yet. The exchange had put a halt to crypto withdrawals last month and was supposedly ready to resume the withdrawals this week, Thursday. CEO Mark Lamb clarified that it is now supposed to be pushed for a later date. CoinFLEX is currently wobbling under a...

Jun 30 2022

CoinFlex backtracks on resuming withdrawals

CoinFlex will likely not resume withdrawals for its users on June 30, CNBC reported, citing the exchange's CEO Mark Lamb. Lamb said that the crypto derivatives exchange would not be resuming withdrawals on June 30 and needs...

Breaking: CoinFLEX Takes U-Turn On Resuming Withdrawals, Here’s Why

Jun 30 2022 Published at Coingape under tags  coinflex news roger ver

After promising to resume withdrawals and restore full functionality by the 30th of June, CoinFLEX CEO Mark Lamb now tells CNBC that the exchange will likely not resume the withdrawals by Thursday. CoinFLEX had earlier paused all withdrawals from their platform, citing extreme market conditions. It then revealed that one individual whale owed the company...

Jun 29 2022

CoinFLEX Issues rvUSD Token to Cover for Investor's Default on Debt

Coin Futures Lending Exchange (CoinFLEX) on Tuesday issued a new token called Recovery Value USD (rvUSD). The token, whose issuance will be halted on July 1, 2022, is targeted at covering the shortfall in the trading platform’s books. According to CoinFLEX, the issuance price for the token is 1 USD Coin for 1 rvUSD. With the maximum amount to be issued pegged at 47...

CoinFlex CEO Vs Roger Ver, Who Owes Whom?

CEO of Cryptocurrency exchange CoinFLEX Mark Lamb, stated on Twitter that CoinFlex has issued Bitcoin Cash promoter Roger Ver a notice of default. According to Lamb, Ver defaulted on a loan agreement worth $47 million in USDC. Roger Ver Claims CoinFlex owes him and not the other way around Mark Lamb announced on twitter that CoinFlex...

Jun 28 2022

Roger Ver Allegedly Defaults on CoinFLEX for $47 Million

Jun 28 2022 Published at Crypto Briefing under tags  coinflex people

CoinFLEXs CEO claims that Roger Ver owes the crypto lender $47 million, an accusation that Ver vehemently denies. Roger Ver Named as CoinFLEXs Mysterious Counterparty It would appear that Roger...

BCH’s Roger Ver Rumored to be the High Net Worth Individual Who Owes CoinFLEX $47M

Summary: Crypto community member, FatMan Terra, has suggested that Roger Ver is the high net worth individual who allegedly owes CoinFLEX $47 million. CoinFLEX has released plans to launch a recovery token to raise funds to cover the $47 million deficit. Bitcoin Cash's Roger Ver has since denied the allegations. Terra and Crypto Twitter community member @FatManTerra has suggested that Roger Ver is...

CoinFLEX Halted Crypto Withdrawals. Now It Wants to Sell Its Bad Debt

Jun 28 2022 Published at Crypto Briefing under tags  coinflex news rvusd

CoinFLEX plans to sell $47 million worth of high-yielding tokens to recoup missing funds and resume withdrawals after a trusted client failed to meet a margin call last Thursday. CoinFLEX...

CoinFlex to resume withdrawals after raising funds via new token issuance

Crypto exchange CoinFlex will resume withdrawals after issuing a new token — dubbed Recovery Value USD (rvUSD) — which will offer 20% annual returns to users, the exchange announced in a whitepaper on June 27. CoinFlex intends to issue $47 million worth of rvUSD starting June 28 to help deal with liquidity issues and expects withdrawals to...

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