EXCLUSIVE：How Bitcoin Jesus Roger and the Exchange CoinFLEX Collapse
On June 24, 2022, the exchange CoinFLEX announced that it made the decision to halt user withdraws, and the price of the platform Token FLEX subsequently plummeted, from $4.30 to less than $1.50 in four hours. At the same time, FlexUSD, the platform's stablecoin, also began to de-peg, with prices dropping as low as $0.23. CEO Mark Lamb tweeted on June 29th, explaining that Roger Ver owes CoinFLEX 47 million USDC, which led to a liquidity squeeze on exchanges, and they had served a notice of default. Roger Ver then tweeted in response: "Recently some rumors have been spreading that I have defaulted on a debt to a counter-party . These rumors are false. Not only do I not have a debt to this counter-party , but this counter- party owes me a substantial sum of money, and I am currently seeking the return of my funds." We recently learned the entire insider details through a source close to the situation. CoinFLEX is a centralized derivatives exchange based in the Seychelles w...