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Roger Ver Allegedly Defaults on CoinFLEX for $47 Million

Key Takeaways

  • CoinFLEX’s CEO has revealed the massive counterparty liable for the corporate’s $47 million debt is Roger Ver.
  • Ver denies the accusation and claims that it’s in truth CoinFLEX that owes him cash.
  • CoinFLEX has issued a discover of default to Ver.

CoinFLEX’s CEO claims that Roger Ver owes the crypto lender $47 million, an accusation that Ver vehemently denies.

Roger Ver Named as CoinFLEX’s Mysterious Counterparty

It will seem that Roger Ver owes CoinFLEX $47 million.

In response to CoinFLEX CEO Mark Lamb, the beforehand reported giant counterparty liable for the crypto trade’s $47 million debt is none apart from Bitcoin celeb Roger Ver. Lamb acknowledged on Twitter that Ver had been served a discover of default for failing to prime up his margin necessities.

Lamb’s announcement got here shortly after Ver himself tweeted that rumors of his default to a counterparty had been false. “Not solely do I not have a debt to this [counterparty], however this [counterparty] owes me a considerable sum of cash, and I’m at the moment searching for the return of my funds,” Ver posted.

Ver’s denial prompted Lamb to “make clear to the general public that sure – the debt is 100% associated to [Ver’s] account” and that “CoinFLEX additionally categorically denies that we’ve got any money owed owing to him,” insisting the accusation was a tactic by Ver to “deflect from his liabilities and obligations.”

Crypto Briefing beforehand reported on CoinFLEX’s $47 million unhealthy debt, although the counterparty was nonetheless unnamed on the time of writing. Below regular circumstances the lending platform would’ve liquidated the bancrupt place; it selected to not due to the “stringent private ensures” put ahead by the counterparty, now mentioned to be Ver.

As an alternative, CoinFLEX determined to create the rvUSD token in an try and monetize their legal responsibility. Formally known as Restoration Worth USD, the coin additionally bears, maybe coincidentally, Roger Ver’s initials.

Roger Ver is an early Bitcoin investor and influencer. His evangelistic selling fashion earned him the nickname of “Bitcoin Jesus”; he’s the Government Chairman of Bitcoin.com.

Disclosure: On the time of writing, the writer of this piece owned ETH and a number of other different cryptocurrencies.

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