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Mark Lamb accuses Roger Ver of owing $47 million
CoinFLEX CEO Mark Lamb stated that cryptocurrency investor Roger Ver has recorded a debt level of $47 million USDC. Lamb made his allegations public Tuesday on Twitter, shortly after Ver denied "some rumors" that he was involved in the default.
Roger Ver owes CoinFLEX $47 Million USDC. We have a written contract with him obligating him to personally guarantee any negative equity on his CoinFLEX account and top up margin regularly. He has been in default of this agreement and we have served a notice of default.
— Mark Lamb 💪 (@MarkDavidLamb) June 28, 2022
Lamb's Twitter comments come after CoinFlex announced on Monday that it would be launching its Recovery Value USD (rvUSD) token after recently stopping withdrawals due to unpaid debt that a high net worth client — presumably Ver — is owed to the exchange.
Lamb claims that Ver owes CoinFLEX $47 million USDC and that the company has a "written contract with him, forcing him to personally secure any negative equity on his CoinFLEX account and deposit regularly. He was unable to make this deal and we sent a notice of failure to pay the debt."
Lamb emphasized that "the debt is 100% related to his account" and that Coin FLEX is looking to resolve the issue.
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Roger Ver denies $47 million debt claim
In response to Lamb's comments, Ver tweeted:
"Recently some rumors spread that I was insolvent because of a counter-party. These rumors are false. Not only am I not indebted to this partner, but this partner owes me a significant amount of money, and I am currently seeking to pay back my money."
Ver was a very early investor in Bitcoin and crypto startups, and is now one of the biggest supporters of Bitcoin Cash.
CoinFlex issues tokens to save liquidity
The new token is called usd recovery value (rvUSD) and will be worth $1 per token. It was designed to help CoinFLEX recover a $47 million loss attributable to an account that was allowed to negative equity without liquidation, which CoinFLEX is alleging roger ver. The token will be issued from Tuesday (June 28) to July 1, and the company announced that it hopes to make withdrawals back before June 30.
CoinFLEX's native token, FLEX Coin (FLEX), has fallen heavily over the past four days by falling 84% to $0.70 at the time of writing.
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