- The CEO of CoinFLEX has revealed that the large counterparty responsible for the company’s $47 million debt is Roger Ver.
- Ver denies the accusation and claims that it is in fact CoinFLEX that owes him money.
- CoinFLEX has issued a notice of default to Ver.
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The CEO of CoinFLEX claims Roger Ver owes the cryptocurrency lender $47 million, an allegation Ver vehemently denies.
Roger Ver named as CoinFLEX’s mystery counterparty
It appears that Roger Ver owes CoinFLEX $47 million.
According to CoinFLEX CEO Mark Lamb, the large counterparty responsible for the crypto exchange’s $47 million debt is none other than Bitcoin celebrity Roger Ver. Lamb. fixed on Twitter that Ver had received a notice of default for failing to complete its margin requirements.
Lamb’s announcement came shortly after Ver himself tweeted that rumors about his defaulting on a counterparty were false. “Not only do I not owe a debt to this [counterparty]but this [counterparty] He owes me a substantial sum of money, and I am currently seeking the return of my funds,” View aware.
Ver’s denial prompted Lamb to “make it clear to the public that yes, the debt is 100% related to [Ver’s] account” and that “CoinFLEX also categorically denies that we have debts with him”, insisting that the accusation was a tactic by Ver to “deviate from his obligations and responsibilities”.
crypto report previously reported on CoinFLEX’s $47 million bad debt, though the counterparty was yet to be named at the time of writing. Under normal circumstances, the lending platform would have liquidated the insolvent position; chose not to do so due to “strict personal guarantees” put forth by the counterparty, now said to be Ver.
Instead, CoinFLEX decided to create the rvUSD token in an attempt to monetize their liability. Officially called Recovery Value USD, the coin also bears, perhaps coincidentally, the initials of Roger Ver.
Roger Ver is one of the early Bitcoin investors and influencers. His evangelical promotional style earned him the nickname “Bitcoin Jesus”; he is the CEO of Bitcoin.com.
Disclosure: At the time of writing, the author of this article owned ETH and several other cryptocurrencies.
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