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FLEX Token Rises 21% After CoinFLEX Restructuring Plan Approved
The crypto exchange filed for restructuring in August 2022 after suspending withdrawals earlier that summer.
Updated Mar 8, 2024, 4:50 p.m. Published Mar 7, 2023, 12:51 p.m. 1 min read
FLEX, the native token of the CoinFLEX exchange, jumped 21% Tuesday after the company received approval for a restructuring plan from courts in the Seychelles, where it is based.
CoinFLEX filed for restructuring last August after it suspended withdrawals amid a liquidity crunch in June.
The token was recently trading at $1.96.
The exchange in a statement said that trading in locked assets, including LUSD and LETH, will remain so until the Seychelles court publishes the written court order.
In the proposed restructuring first laid out in September, CoinFLEX said that creditors would own 65% of the company and that Series A investors would lose their equity stakes.
Sizin için daha fazlası
"An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries," wrote President Trump late Saturday afternoon.
Bilinmesi gerekenler:
- Down sharply earlier Saturday, bitcoin moved to gains on the day after President Trump announced a peace agreement with Iran and other Middle Eastern countries.
- As part of the deal, Trump said, the Strait of Hormuz will be reopened.
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