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Roger Ver Allegedly Defaults on CoinFLEX for $47 Million


Yet “Bitcoin Jesus” insists he’s the one looking for the return of his funds.

Key Takeaways

  • CoinFLEX’s CEO has actually exposed the big counterparty accountable for the business’s $47 million financial obligation is Roger Ver.
  • Ver rejects the allegation and declares that it remains in reality CoinFLEX that owes him cash.
  • CoinFLEX has actually provided a notification of default to Ver.

CoinFLEX’s CEO declares that Roger Ver owes the crypto lending institution $47 million, an allegation that Ver emphatically rejects.

Roger Ver Named as CoinFLEX’s Mysterious Counterparty

It would appear that Roger Ver owes CoinFLEX $47 million.

According to CoinFLEX CEO Mark Lamb, the formerly reported big counterparty accountable for the crypto exchange’s $47 million financial obligation is none besides Bitcoin star Roger Ver. Lamb specified on Twitter that Ver had actually been served a notification of default for stopping working to top up his margin requirements.

Lamb’s statement came quickly after Ver himself tweeted that reports of his default to a counterparty were incorrect. “Not just do I not have a financial obligation to this [counterparty], however this [counterparty] owes me a significant amount of cash, and I am presently looking for the return of my funds,” Ver published

Ver’s rejection triggered Lamb to “clarify to the general public that yes– the financial obligation is 100% associated to [Ver’s] account” which “CoinFLEX likewise unconditionally rejects that we have any financial obligations owing to him,” firmly insisting the allegation was a strategy by Ver to “deflect from his liabilities and obligations.”

Crypto Briefing formerly reported on CoinFLEX’s $47 million uncollectable bill, though the counterparty was still unnamed at the time of composing. Under typical situations the loaning platform would’ve liquidated the insolvent position; it picked not to due to the fact that of the “strict individual assurances” advanced by the counterparty, now stated to be Ver.

Instead, CoinFLEX chose to develop the rvUSD token in an effort to monetize their liability. Formally called Recovery Value USD, the coin likewise bears, possibly coincidentally, Roger Ver’s initials.

Roger Ver is an early Bitcoin financier and influencer. His evangelistic promoting design made him the label of “Bitcoin Jesus”; he is the Executive Chairman of Bitcoin.com.

Disclosure: At the time of composing, the author of this piece owned ETH and numerous other cryptocurrencies.

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