Mark Lamb, the CEO of CoinFLEX, alleged that Bitcoin evangelist cum Bitcoin Cash promoter, Roger Ver, is responsible for the platform’s financial woes. CoinFLEX seeks to raise $47 million in token sales to pay off its debt.
Lamb tweeted that Roger Ver owes the platform $47 million USDC. He revealed that CoinFLEX has a written contract with Ver. It obliges him to personally guarantee any negative equity on his CoinFLEX account and top up margin regularly. Lamb alleged that Ver has been in default on this agreement. CoinFLEX claims it has already issued him a notice of default.
A Twitter user known as FatManTerra had initially leaked this information. But Ver brushed it off saying that he doesn’t have a debt with CoinFLEX. He made a counter claim that CoinFLEX owes him a substantial sum of money. However, Lamb said this to be blatantly false. He said CoinFLEX served Ver with a notice of default and was in talks with him about the situation. Lamb highlighted that CoinFLEX wants to resolve the situation and added that the platform owes him nothing. The executive said it’s unfortunate that Ver needs to resort to such tactics in order to deflect from his liabilities and responsibilities.
CoinFLEX plans to fix its liquidity shortage by issuing a new token – Recovery Value USD (rvUSD). User withdrawals are set to resume on June 30.