Trading platform “CoinFLEX” sends default notice to Mr. Roger Ver…Details here
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Answer Trading platform “CoinFLEX” sends default notice to Mr. Roger Ver…Details here
Cryptocurrency exchange CoinFLEX has submitted a default notice to Roger Ver, known for promoting the Bitcoin cash project, CoinFLEX CEO Mark Lamb said.
Lamb tells that Roger Ver owes his company $47 million in USDC stablecoins.
Lamb added that the CEO of “Bitcoin.com” failed to meet the margin requirements despite his commitment to strict personal guarantees about account equity.
This caused the trading platform to abruptly halt withdrawals last week in order to prevent a bank scramble.
While CoinFLEX usually liquidates an investor’s position if it moves into passive equity, its agreement with Roger Ver contains a special clause that prevents the trading platform from doing so.
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In a desperate move, the embattled trading platform announced that it will issue $47 million worth of a new digital token called Recovery Value USD (rvUSD).
To make the offer even more attractive, CoinFLEX has decided to offer a whopping 20% annual rate (APR) to those who want to buy the cryptocurrency.
It is possible that the issuance of the digital token will allow the exchange to raise enough funds to cover the shortfall caused by Roger Ver’s debt.
Roger Ver claims that the religion in question does not actually belong to him, denying the accusations against him.
According to Lamb, Ver’s claims are blatantly false and the CoinFLEX CEO added that the crypto entrepreneur is trying to walk away from his responsibilities.
Trading platform CoinFLEX believes Roger Ver still has “significant assets” in the US, UK and other related jurisdictions.
Read:Bitcoin Dominance Drops to Lowest Level Since February 2018…How Altcoins Can Benefit
Earlier in a Bloomberg interview, Roger Ver told Dogecoin that Dogecoin is much better than Bitcoin.
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