Coinflex

Immanual John Milton / Bloomberg: CoinFlex will let users withdraw up to 10% of their balances, excluding its flexUSD stablecoin, on July 15, after pausing withdrawals last month — CoinFlex will allow users to take out a limited portion of their balances after pausing withdrawals last month due to a counterparty failing to make a margin call. Immanual John Milton / Bloomberg: CoinFlex will let users withdraw up to 10% of their balances, excluding its flexUSD stablecoin, on July 15, after pausing…

One of the difficulties of cryptocurrency is figuring out who to believe. Case in point: the conflict between Mark Lamb, CEO of CoinFlex, and Roger “Bitcoin Jesus” Ver, an early Bitcoin investor. Lamb says Ver owes his company $47 million and is the reason the company froze customer withdrawals last week. Ver denies this and says that, in fact, CoinFlex owes him money. Well, things have gotten worse CoinFlex, an exchange, froze withdrawals on June 27th, saying that it would restart withdrawals on June 30th with one…

Photo: Nhac Nguyen (Getty Images)The great crypto implosion of 2022 is starting to look more and more like a classic run on the banks.Crypto futures and lending exchange platform Coinflex shocked users on Thursday with an announcement saying it would pause all withdrawals, citing “extreme market conditions” and continued uncertainty. Users are, as of press time, unable to pull any money out of their Coinflex accounts. The hectic pause comes one week after similar sudden withdrawal freezes at Celsius and Binance, two of…