Renowned crypto exchange, CoinFLEX has filed for restructuring in a local court in Seychelles. The crypto exchange revealed this development to its users via mail. Coinflex disclosed that the mail ten...
Tag: Coinflex
CoinFLEX files for restructuring in Seychelles court: Bloomberg
Crypto exchange CoinFLEX has filed for restructuring in Seychelles, Bloomberg reported on Tuesday. CoinFLEX announced the restructuring process in emails to customers on Tuesday. “It will seek ...
Troubled CoinFLEX Files for Restructuring in Seychelles
On Tuesday, the troubled Cryptocurrency exchange, CoinFlex, filed for restructuring in a Seychelles court to resolve a shortfall due to a counterparty failing to make a margin call. The company sent o...
CoinFLEX Files Restructuring Case in Seychelles Court
Following the halt to all CoinFLEX withdrawals in June – and the subsequent partial restart in July – CoinFLEX has filed a motion to be restructured with the authorities in the Seychelles Islands. In ...
CoinFLEX Files for Restructuring in Seychelles
Crypto futures exchange CoinFLEX on Tuesday filed for restructuring in a Seychelles court as part of its efforts to address a shortfall caused by a counterparty who failed to make a margin call. CoinF...
Germany-based Nuri files for insolvency, CoinFlex kicks off restructuring process
Unfavorable market conditions have forced German-based crypto bank Nuri to file for insolvency. Nuri announced on August 9 that it has become insolvent due to financial struggles due to the crypto win...
CoinFLEX to lay off employees, fights a legal battle with “Bitcoin Jesus.”
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CoinFLEX says it has laid off staffers to cut costs by 50-60%
Crypto exchange CoinFLEX has let go of a “significant” portion of its team in an attempt to cut operating costs as it seeks a full recovery since halting withdrawals last month. The firm ...
CoinFLEX dismisses employees to reduce maintenance cost
Popular crypto exchange, CoinFLEX has now dismissed many of its employees. The exchange confirmed the decision in a blog post on Friday. Reportedly, CoinFLEX hinted that the move emanated in a bid to ...
CoinFLEX announces staff cuts as part of measures to reduce costs by up to 60%
Cryptocurrency exchange CoinFLEX said it had downsized a “significant number” of team members in an effort to cut operating costs. According to a Friday blog post, CoinFLEX said it had cut some staff ...
CoinFLEX Cuts Down on Staff Strength Amid Stability Woes
Updating its users on the latest for the week, cryptocurrency exchange CoinFLEX has announced that it is cutting down on its staff strength. The retrenchment process will run across its various depart...
Crypto Futures Exchange CoinFLEX To Lay Off Employees As It Fights Legal Battle With ‘Bitcoin Jesus’
Embattled crypto derivatives exchange CoinFLEX is announcing employee layoffs amid a legal battle with ‘Bitcoin Jesus.’ In a new blog post, CoinFLEX says it is laying off a significant number of emplo...
CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say
In a recent announcement dated 29 July, co-founders of CoinFLEX, Sudhu Arumugam and Mark Lamb, provided an important update. The updated surrounded what the cryptocurrency exchange had been up to mana...
CoinFlex cuts staff amid plans to reduce costs 1
CoinFlex has announced that it is cutting its workers to eliminate excess costs amid the dwindling crypto market. In a blog post that was culled off the exchange’s official website, the exchange annou...
CoinFLEX Announces ‘Significant’ Layoffs Amid $84M Dispute With ‘Bitcoin Jesus’
Troubled cryptocurrency exchange CoinFLEX is undergoing massive layoffs. “We, unfortunately, had to let go of a significant number of the CoinFLEX team across all departments and geographies,” announc...
CoinFLEX Makes “Significant” Staff Cuts Due to Recovery Costs
Key Takeaways CoinFLEX says that it will layoff a portion of its workforce due to the costs of distributing its composite asset. By next week, the company expects to have data on how much of the CoinF...
The Inside Story Of The Roger Ver Vs. CoinFLEX Conflict
The infamous Roger Ver is back in the headlines for all the wrong reasons. Like many players in the industry, the derivatives exchange CoinFLEX recently ran into financial trouble. Surprisingly, they ...
CoinFlex to Allow Users to Withdraw up to 10% of their Balance
According to Bloomberg News, CoinFlex will allow users to later withdraw 10% of their balance after suspending withdrawals last month. On June 29, CoinFlex CEO Mark Lamb revealed on Twitter that crypt...
CoinFLEX Opens Limited Withdrawals Amid Dispute With Bitcoin Evangelist Roger Ver
Trading platform CoinFLEX today announced limited withdrawals for customers after freezing them last month amid a dispute with prominent crypto investor Roger “Bitcoin Jesus” Ver. The company said in...
CoinFlex Crypto Exchange opens up for Limits Withdrawals and Kept Most Assets Locked –
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CoinFLEX Allows Limited Withdrawal Option For Customers
7 seconds ago | 2 mins read Exchange News The platform’s stablecoin, flexUSD, will remain unavailable until further notice. Earlier this month, the platform put a hold on withdrawals. In the wake of a...
Crypto Exchange CoinFLEX Limits Withdrawals, Keeps Most Assets Locked
Following a three week shutdown, CoinFLEX said it was opening limited withdrawals to the tune of 10% Certain derivatives contracts and open positions on the platform will be closed until further notic...
CoinFLEX to enable 10% withdrawals from July 15
Crypto trading platform CoinFLEX, which halted withdrawals on June 24, will enable limited customer withdrawals starting 5 am UTC on July 15, the exchange said in a July 14 statement. At the mentioned...
CoinFLEX Reopens Limited Customer Withdrawals
Key Takeaways CoinFLEX has announced that customers are now able to withdraw up to 10% of their balance, excluding flexUSD. The firm also mentioned possible recovery plans including further withdrawal...
CoinFLEX Allows Users To Withdraw Funds, But There’s A Catch
Crypto exchange CoinFLEX on Thursday said it will allow users to withdraw 10% of funds from their accounts from July 15, except flexUSD stablecoin. The remaining 90% of funds will remain locked in acc...
CoinFLEX to Restart Withdrawals But There’s a Catch
Several weeks after halting withdrawals due to a whale’s account going into negative equity, the crypto exchange has provided more details on how users will be able to withdraw at least certain portio...
CoinFLEX Initiates $84 Million Arbitration Along With Limited Withdrawals
CoinFLEX, a platform for cryptocurrency investments, is pressing forward with its goal to retrieve $84 million in money by initiating arbitration proceedings against an individual account holder in Ho...
CoinFLEX to begin arbitration for $84 million recovery
CoinFLEX is moving quickly to retrieve as much liquidity as it can The price of FLEX fell 71% on Saturday It is currently trading at $0.30 Crypto venture stage CoinFLEX is pushing ahead with its arr...
CoinFLEX users are not in the clear- Fresh concerns hot off the press
In a recent announcement dated 9 July, co-founders of CoinFLEX, Sudhu Arumugam and Mark Lamb outlined steps they intend to take in order to help the exchange out of its current liquidity crisis. An u...
CoinFLEX Enters Arbitration to Recover $84M from ‘Large Individual Customer’
According to CoinFLEX, it will take up to 12 months to fully recover the deficit. Currently, while seeking arbitration, CoinFLEX is also trying to fix the problem and looking to raise funds from its i...
Embattled exchange CoinFLEX sues Roger Ver in $84 million lawsuit
Troubled crypto exchange CoinFLEX confirmed it had filed legal action in Hong Kong to recover $84 million from Bitcoin Cash (BCH) proponent Roger Ver. On June 24, the company announced it had paused w...
CoinFLEX files for arbitration in Hong Kong to recover $84M
CoinFLEX is among the crypto firms affected by the bearish conditions across the market. The crypto investment firm is looking into how it can reclaim $84 million worth of funds from the whale account...