CoinFLEX CEO says Roger Ver aka “Bitcoin Jesus” owes them 47M

CoinFLEX CEO (on right) and Roger Ver

CEO of crypto derivatives exchange and yield platform CoinFLEX Mark Lamb has revealed that the “high integrity” person whose account went into negative equity during recent market volatility is the Bitcoin Cash (BCH) supporter Roger Ver.

The disclosure came after Ver, who is also referred to as “Bitcoin Jesus,” publicly rejected rumors that he had defaulted on a debt to a counterparty.

Shortly after this denial, Lamb revealed that Ver owes CoinFLEX USDC 47M. He said that they have a written contract with him binding him to personally guarantee any negative equity on his CoinFLEX account and top up margin regularly.

Lamb also mentions that Ver is denying that the debt pertains to him and so they felt the need to clarify to the public. He also specifies that the debt is 100% related to his account and that they have already served a notice of default.

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CoinFLEX revealed late Monday that they intend to tokenize the debt of a client into a token called Recovery Value USD (rvUSD) in order to fund other customers’ withdrawals.

The platform called the client “a high integrity person of powerful means” who is experiencing temporary liquidity problems “due to a credit (and price) crunch in crypto markets (and even non-crypto markets) and who has significant shareholdings in several unicorn private companies and a large portfolio.

The issuance of rvUSD tokens was supposed to commence today. Potential buyers will be proffered a 20% Annual Percentage Rate (APR) rate in addition to other perks, including 2.5m FLEX coins allocated proportionally across all holders.

The platform’s native token FLEX has been hit hard lately as the drama continues. At 7:26 UTC on Wednesday morning, the coin was trading at around USD 0.76, down by 17% over the past day and by more than 83% over the past week.

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