When asked of a potential bank run on Bloomberg TV Monday evening, CEO Mark Lamb said he’s unconcerned this scenario would occur as customers can withdraw their funds once the new token fundraise is complete. Lamb also said CoinFLEX plans to boost transparency for future positions, notional value of accounts, margin, and will use an external auditing firm to do so.
Source: https://www.coindesk.com/business/2022/06/27/coinflex-to-launch-a-47m-recovery-token-to-solve-withdrawal-issues/?utm_medium=referral&utm_source=rss&utm_campaign=headlines