Share this article
CoinFLEX Withdrawals Remain Halted as Recovery Token Talks Continue
The company had initially hoped to resume withdrawals on Thursday.
Updated May 11, 2023, 5:34 p.m. Published Jun 30, 2022, 7:46 p.m. 1 min read
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.”
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.
Más para ti
FalconX has hired Cantor and other bankers to advise on a potential IPO and confidentially filed draft paperwork with the SEC, though the listing is not expected until later this year amid volatile market conditions.
Lo que debes saber:
- FalconX has confidentially filed a draft S-1 with the SEC and hired Cantor to advise on a potential IPO, according to a source.
- The crypto prime broker, last valued at $8 billion in 2022, serves institutional clients including hedge funds, asset managers and market makers.
- Cooling investor sentiment, weaker trading...
Top Stories
