CoinFLEX And 3AC Founders Under Fire For Misappropriating Creditor Assets
In a revelation brought to light by an account on X (formerly Twitter) under the name “CoinFLEX Real,” allegations have emerged indicating that the founder of CoinFLEX, a derivatives exchange based in Hong Kong, along with their partners at Three Arrows Capital (3AC), have allegedly engaged in the misappropriation of creditor assets for personal gain. […]
Related News
Subject to a vote and court approval, the plan proposed CoinFlex creditors own 65% of the company, while its team members be allocated 15% of the company's shares. Cryptocurrency exchange CoinFlex announced a structuring proposal in response to user feedback following the platform experiencing liquidity issues.In a Wednesday blog post, CoinFlex said under the proposal — which will be subject to a vote and then court approval— creditors will own 65% of the company, while its team members will be allocated 15% of shares as part of an employee share option plan. According to the platform,....
PRESS RELEASE. Since early August, CoinFLEX has seen a tremendous increase in trading activity, climbing to a staggering high of $3 billion USD daily trading volume with Open Interest over $200 million dollars. The increase in trading volumes and market liquidity are indications of CoinFLEX’s rapid adoption. CoinFLEX’s repo volume has also seen a significant increase, with total trading volumes surpassing $120 billion. The repo market is vital to the CoinFLEX ecosystem as its profits fuel flexUSD’s competitive APRs. On CoinFLEX and other futures exchanges, futures....
PRESS RELEASE. CoinFLEX, a crypto futures exchange, is the first centralized exchange to launch a hybrid Automated Market Maker called AMM+. CoinFLEX will be hosting an ‘AMM+ Arena’ competition where users will be rewarded based on their ranking and weekly trading volume. The past two years have been an enormous period of growth for AMMs. While the AMMs are a crypto-native innovation born out of decentralized finance, CoinFLEX is the first centralized exchange (CEX) to launch an AMM for the futures market. The AMM, called AMM+, trades directly in CoinFLEX’s perpetual....
Crypto exchange, CoinFLEX might not lift the ban on user withdrawals just yet. The exchange had put a halt to crypto withdrawals last month and was supposedly ready to resume the withdrawals this week, Thursday. CEO Mark Lamb clarified that it is now supposed to be pushed for a later date. CoinFLEX is currently wobbling […]
CoinFLEX is one of the crypto exchanges that suffered during the bearish trend and is currently paving for restructuring. Following its filings for reorganization at s Seychelles court, the exchange released its restricting plan. The crypto winter in the year’s first half brought severe drought to several crypto assets. As a result, the entire crypto […]