Troubled crypto exchange CoinFLEX reopened withdrawals today, allowing users to withdraw 10% of their balance.
Customers Can Withdraw 10% of Balance
After three weeks of suspended services, CoinFLEX will now allow customers to withdraw a portion of their funds.
The firm said that it will “enable limited withdrawals for all users this week.” Specifically, customers will be able to withdraw 10% of their balances excluding flexUSD, which remains frozen.
CoinFLEX also said that it will “work with a laser focus on … recovery plans” that will allow it to regain solvency. It mentioned the possibility of further withdrawals, new equity investors, and an acquisition of the company.
Those possibilities follow plans mentioned in a July 9 announcement. That update suggested that CoinFLEX is attempting to raise funds from new investors, seeking depositors willing to turn their deposits into equity, and raising funds through its Recovery USD (rvUSD) token.
That update also suggested that CoinFLEX...
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