Roger Ver, an early Bitcoin investor and Bitcoin Cash advocate, has responded to allegations from crypto investment platform CoinFLEX regarding alleged $47 million in debt.
In a tweet on Tuesday, Ver – without mentioning CoinFLEX by name – said what nor he had “defaulted on a debt to a counterparty,” and alleged that the firm owed him “a substantial sum of money.” The denial followed rumors on social media that the BCH advocate was involved on the platform that stopped withdrawals due to “a high-net-worth client who has stakes in many large cryptocurrency firms” not covering his debts.
CoinFLEX CEO Mark Lamb took to Twitter shortly after the release to claim that the company had a written contract with Ver “requiring him to personally guarantee any negative balance in his CoinFLEX account and to replenish margin on a regular basis.” According to Lamb, CoinFLEX served Ver with a notice of non-payment and was “talking to him on frequent calls about this situation with the goal of resolving it,” claiming that the company owed him nothing.
“It is unfortunate that Roger Ver has to resort to these kinds of tactics to divert attention from his responsibilities,” said the CEO of CoinFLEX.
Roger Verowes CoinFLEX $47 Million USDC. We have a written contract with him obligating him to personally guarantee any negative equity on his CoinFLEX account and top up margin regularly. He has been in default of this agreement and we have served a notice of default.
— Mark Lamb (@MarkDavidLamb) June 28, 2022
Cointelegraph reported on Tuesday that a CoinFLEX account – owned by a “high-integrity and wealthy person” – incurred $47 million in losses after it was allowed to reach a negative balance without being liquidated. The platform planned to fix its liquidity shortage by issuing a new token, Recovery Value USD (rvUSD), starting June 28, with user withdrawals expected to resume on June 30.
The price of FLEX, the native token of CoinFLEX, has fallen by more than 84% in the last 30 days, from $1.19 to $0.80 following statements by Lamb and Ver on Twitter.
Cointelegraph reached out to Roger Ver and Mark Lamb but received no response at press time. This story may be updated.
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