Roger Ver, an early Bitcoin investor and Bitcoin Cash proponent, has pushed in opposition to claims from crypto funding platform CoinFLEX relating to an alleged $47-million debt.

In a Tuesday tweet, Ver — not mentioning CoinFLEX by identify — mentioned he had not “defaulted on a debt to a counter-party,” and alleged the crypto firm owed him “a substantial sum of money.” The denial adopted rumors on social media that the BCH proponent was concerned within the platform halting withdrawals because of “a high-networth client who has holdings in many large crypto firms” not protecting their money owed.

CoinFLEX CEO Mark Lamb took to Twitter shortly after the assertion to say the corporate had a written contract with Ver “obligating him to personally guarantee any negative equity on his CoinFLEX account and top up margin regularly.” According to Lamb, CoinFLEX served Ver with a discover of default and was “speaking to him on calls frequently about this situation with the aim of resolving,” claiming the firm didn’t owe him something.

“It is unfortunate that Roger Ver needs to resort to such tactics in order to deflect from his liabilities and responsibilities,” mentioned the CoinFLEX CEO.

Roger Ver owes CoinFLEX $47 Million USDC. We have a written contract with him obligating him to personally assure any destructive fairness on his CoinFLEX account and high up margin commonly. He has been in default of this settlement and we’ve got served a discover of default.

— Mark Lamb (@MarkDavidLamb) June 28, 2022

Related: Su Zhu’s cryptic assertion as rumors swirl of 3AC liquidations and insolvency

Cointelegraph reported on Tuesday {that a} CoinFLEX account — held by a “high-integrity person of significant means” — incurred $47 million in losses after being allowed to achieve destructive fairness with out being liquidated. The platform deliberate to repair its liquidity scarcity by issuing a brand new token, Recovery Value USD (rvUSD), beginning June 28, with consumer withdrawals anticipated to renew on June 30.

The worth of CoinFLEX’s native token (FLEX) has fallen greater than 84% within the final 30 days, dropping from $1.19 to $0.80 following Lamb’s and Ver’s statements on Twitter.

Cointelegraph reached out to Roger Ver and Mark Lamb, however didn’t obtain a response on the time of publication. This story could also be up to date.


Please enter your comment!
Please enter your name here