CoinFLEX files case for restructuring in Seychelles court
CoinFLEX, the troubled cryptocurrency exchange has an idea on how to compensate some investors, but not everyone is in favor of it. After ceasing all withdrawals from CoinFLEX in June and then partially restarting them in July, CoinFLEX has submitted a proposal to be reformed to the Seychelles Islands’ government. In actuality, the islands are […]
CoinFLEX lowers personnel to decrease expenses by 60%
According to the exchange, the goal is to stay appropriately scaled for any organization considering a future purchase of or cooperation opportunity with CoinFLEX. A “substantial number” of staff employees have been reduced, according to cryptocurrency exchange CoinFLEX , in an effort to save operational expenses. In a blog post published on Friday, CoinFLEX said […]
Tokenized bad debt and more yields are part of CoinFLEX recovery plan
CoinFLEX plans to dispose of bad debt through a new token offering in order to address its liquidity shortfall and resume user withdrawals. The new coin, Recovery Value USD (rvUSD), will have a $1 value per unit. It is intended to assist CoinFLEX in recouping $47 million in losses sustained by a failed attempt to […]