Fall of cryptocurrencies: Coinflex goes all-in in crypto

TributeThe cryptocurrency exchange CoinFLEX will release the funds locked on its platform, when it has successfully completed a all in eight figures, unless she manages to bend her former protege who put her in trouble.

A disaster that was nameless at CoinFLEX

No name, no head on a plate! The investor “is a person of high integrity with significant means”, the idea of ​​delivering him to the press was simply inconceivable for CoinFLEX.

The cryptocurrency exchange was after all only covering the customer who was unable to honor a massive debta failure that deals too much blow to a CoinFLEX already weakened by unfavorable market conditions.

The company then had no choice but to turn off the taps to prevent a haemorrhage of cash. She has stopped withdrawals on its platformJune 23, 2022.

The measure is enough to cringe other customers who have not asked for anything. These dental tensions did not, however, justify the name of this investor “with substantial stakes” in unicorns, not to mention his “large portfolio”, being exposed to the light of day.

He is “experiencing temporary liquidity issues due to a credit (and price) crunch in crypto markets (and non-crypto markets)”, the explanation is enough, it had to be enough.

CoinFLEX was thus sacrificing on the altar of confidentiality, a transparency that could be vital in times of crisis.

nothing shocking, business is business ? The company’s CEO, Mark Lamb, even continued to preach the good word, for men and women of little faith, the storm is (perhaps) only passing.

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The price of freedom for a crypto exchange

“We turn a problem into an opportunity,” said Mark Lamb in a June 27, 2022 interview with Bloomberg.

To a unicorn owner unable to meet their financial commitments, and customers who are only allowed to recover their own funds, CoinFLEX’s response comes in two words: make carpet.

The crypto exchange will issue its new rvUSD token which offers a return of 20%to raise the modest sum of 47 million dollars. Bluff Or a whimsical project in an act of desperation? Subjective interpretation does not matter, the price to reopen the doors to funds locked in CoinFLEX is fixed.

More money is needed, to free his captive peers. Absurdity of finance when you hold us! All users of the crypto exchange will be able to withdraw their entire holdings, once these 47 million dollars are raised.

From this angle, the all-in of CoinFLEX has something to think about for cryptophiles who do not easily drink the good words of the leaders of the crypto companies of the future, with yet an uncertain future.

The blue bird has been there!

The truth will set you free, unless social media pressure groups have greater power to even loosen tongues accustomed to silently carrying the heaviest secrets.

Mark Lamb will finally reveal in a tweet on June 28, 2022, the name of this investor, anonymous but well-known figure in the cryptosphere, who succeeded in partially paralyzing the CoinFLEX machine.

Roger Worm owes CoinFLEX US$47 million,” the tweet is clear and unambiguous.

Posted by Mark Lamb – Source: Twitter

Mark Lamb continues by evoking the existence of a written contract to support his statements, and formal notice addressed against the founder of bitcoin.comso that he pays what is due and to whom it may concern.

The almost flattering remarks thus give way to an odor of hostility between the man who would deny “that the debt concerns him”, and a CoinFLEX who, through the voice of his number one, persists and signs that “the debt is 100 % linked to his account”.

Because the time has come to strike back, far is the time for courteous discussions away from the prying eyes, although legitimate, of aggrieved customers.

CoinFLEX has not taken the gloves off to hit back at Roger Ver’s claims that the company also has “debts to him”.

The crypto exchange evokes a statement “ obviously false “, and now talks about tactics that would aim to divert attention from the responsibilities of this investor, a man still described a few days ago as “a person of high integrity” by the company.

CoinFLEX customers are currently experiencing a mishap, which gives a sense of deja vu for users of the Celsius cryptocurrency lending platform. The protocol had also suspended its withdrawals, and continues to struggle in hopes of finally bringing the temperature down.

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