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CoinFLEX Withdrawals Remain Halted as Recovery Token Talks Continue
The company had initially hoped to resume withdrawals on Thursday.
Withdrawals from crypto futures exchange CoinFLEX will remain suspended as the company continues to hold discussions with investors about a recovery token.
“We continue to talk with investors interested in rvUSD and commitments are growing,” CEO Mark Lamb said in a blog post Thursday. “Once the token sale is fully committed, we will be able to communicate a clear path towards enabling withdrawals, but until then they will remain suspended.”
STORY CONTINUES BELOW
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CoinFLEX said earlier this week it was hoping to raise $47 million via a token sale after a certain individual’s account – Roger Ver, according to Lamb – went into negative equity during recent market volatility. The fundraising process at that time was hoped to be completed by July 1 (Friday).
"The goal is to do everything possible to avoid haircuts to customer funds," said Lamb in his note today.
Michael Bellusci
Michael Bellusci is a former CoinDesk crypto reporter. Previously he covered stocks for Bloomberg. He has no significant crypto holdings.
