CoinFLEX CEO Says Roger Ver Owes Exchange $47M
Main page News, business, Crypto Market

CoinFLEX CEO, Mark Lamb, said in a tweet that the long-time proponent of the Bitcoin Cash ecosystem Roger Ver is owing CoinFLEX just as little as $47 million in USDC shortly after Ver said that a "counter-party" owes him a "substantial sum of money."

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

Ver said he does not have any a debt to the counter-party, but is also seeking the way to return his funds. He declined to elaborate on the matter.

Lamb emphasized that the parties have a "written contract" obligating Ver to "personally guarantee any negative equity on his CoinFLEX account and top up margin regularly."

"He is denying that the debt pertains to him and so we felt the need to clarify to the public that yes - the debt is 100% related to his account. Roger Ver a citizen of the European Union who we believe has significant assets in the US, UK and other relevant jurisdictions," Lamb added.

The CoinFLEX CEO "categorically denies" that the exchange has any debts, adding that Ver's statement is "blatantly false."

The accusations come after CoinFLEX suspended withdrawals, citing "extreme market conditions." The Seychelles-based exchange said on June 24 it was also facing "uncertainty involving a counterparty." While CoinFLEX declined to elaborate more about whom it is referring to, the exchange clarified that the counterparty was not Three Arrows Capital or any lending firm.

Later, CoinFLEX announced it will launch a new token called Recovery Value USD (rvUSD) related to an outstanding debt owed by a "certain high net worth individual" to CoinFLEX.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error