Roger Ver, chief executive officer of Bitcoin.com.
Anthony Kwan | Bloomberg | Getty Images
Digital asset exchange CoinFlex is locked in a public battle with long-time cryptocurrency investor Roger Ver over a $47 million debt, reflecting the latest saga to unfold amid the market crash.
On Tuesday, CoinFlex CEO Mark Lamb named Roger Ver, who earned the nickname “Bitcoin Jesus” for his evangelical views early on in the industry, as the investor who failed to pay $47 million of stablecoin USDC as part of a margin call.
USDC is a stablecoin pegged one-to-one with the U.S. dollar. A margin call is a situation in which an investor has to commit more funds to avoid losses on a trade made with borrowed cash.
CoinFlex paused withdrawals for customers last week. Lamb revealed on Monday that an individual investor’s account went into “negative equity.” The company would typically automatically liquidate that investor’s positions. But this particular investor had an agreement with CoinFlex that...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...