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coinflex pauses amid market conditions counterparty pepe unchain Bnb Eth XRP aave Bitcoin crypto futures

What's happening with CoinFLEX?

Partial withdrawals are set to resume as CoinFLEX enters arbitration. The company is looking to recover $84 million through legal proceedings. CoinFLEX halted withdrawals last month citing extreme volatility in the cryptocurrency market.

Will CoinFLEX withdrawals restart on Thursday?

Mark Lamb, the CEO of embattled cryptocurrency exchange CoinFlex, said that withdrawals will probably not restart on Thursday as the company initially hoped. To fix the $47 million hole in CoinFlex’s balance sheet, the company is issuing a token called Recovery Value USD, or rvUSD, and enticing investors with a 20% interest rate.

Who is CoinFLEX's 'Bitcoin Jesus'?

Initially, CoinFlex did not name the customer, but on Tuesday, Lamb claimed the investor is Roger Ver, who has been dubbed “Bitcoin Jesus” for his evangelical views on cryptocurrency in the early days of the industry. Ver has denied that he owes CoinFlex the money. Ver was not immediately available for comment on this story when contacted by CNBC.

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