Monday, December 11, 2023

CoinFLEX CEO blames Roger Ver for platform’s financial woes.

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.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

Most Popular