Sign Up on MEXCCoinFlex 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 has an existing written contract with the CEO of Bitcoin.com which obligates him to “personally guarantee any negative equity” on his account with them.
Ver had apparently never defaulted on topping up margin and meeting the requirements of the contract before. He has been issued a notice of default and according to Liam, they have been on calls with Ver with the aim of resolving the issue.
Ver however wrote on Twitter addressing “rumors” that stated he had defaulted on a loan. He called them false and claimed, he is the one that is owed money. ‘This counter-party owes me a substantial sum of money, and I am currently seeking the return of my funds.’
CoinFlex abruptly halted withdrawals last week in order to prevent a “bank run.” and introduced a new token, Recovery Value USD (rvUSD), this has now been linked with Ver. CoinFlex’s agreement with Ver has a special clause that prevents it from liquidating the investor’s position.
CoinFlex’s new rvUSD token; counterparty revealed
It turns out that the Counterparty CoinFlex refused to reveal during the announcement of the new token and pause in withdrawals last week is none other than Roger Ver, the company had cited “extreme market conditions” and “uncertainty involving a counterparty.” as the reason for the pause.
CoinFlex introduced rvUSD as a token issued by Liquidity Technologies Ltd. (CoinFLEX) relating it to an outstanding debt owed by a certain high net worth individual who we have now discovered to be Roger Ver.
In rvUSD’s whitepaper, CoinFlex is offering a mouthwatering 20% interest rate for people willing to buy and stated that the proceeds from the repayment of the debt/recovery of assets from the Individual (Roger Ver) will be converted into USDC and used as a primary exit mechanism.
- Expert Predicts 138% Shiba Inu Rally as SHIB Futures Listing Opens Spot ETF Path
- Bitcoin Will 200x From Here, Twenty One Capital CEO Says as BTC Breaks $117K After Fed Rate Cut
- BNB Chain Takes Lead in RWA Tokenization, Expert Sees BNB Rally to $1,300
- Grayscale’s GDLC Fund Holding SOL and ADA Gets SEC Nod for NYSE Debut
- Crypto Market Rally: Will Bitcoin Catch Up With S&P 500 Gains After Fed Rate Cut?
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
- SHIB Price Forecast: Taker Buys Lead as Developers Counter Shibarium Exploit
- Solana Price Set for a 25% Jump as Open Interest Nears a $20 Billion Milestone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
