CoinFLEX asserts that Roger Ver owes it $47 million USDC once the dispute goes public

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CoinFLEX asserts that Roger Ver owes it $47 million USDC once the dispute goes public

CoinFLEX asserts that Roger Ver owes it $47 million USDC once the dispute goes public
Bitcoin investor Roger Ver (CoinDesk archives)
Source: CoinDesk
1656497497 29 Jun / 10:11

The chief executive officer of CoinFLEX, Mark Lamb, asserts that prominent crypto investor Roger Ver owes the crypto futures exchange $47 million in USDC. Lamb made his claim public on Twitter on Tuesday, shortly after Ver refuted "some rumors" that he was involved in the default.

Lamb's tweets come after his business announced late Monday that it will issue a Recovery Value USD (rvUSD) coin, having lately halted withdrawals due to an outstanding debt owed by a high-net-worth client, likely Ver.

Lamb said that Ver owes CoinFLEX $47 million USDC and that the firm has a "written contract with him requiring him to personally guarantee any negative equity on his CoinFLEX account and routinely top off the margin." We've presented him with a notice of default since he has breached this agreement.

Lamb emphasized that “the debt is entirely related to his account” and that CoinFLEX attempts to rectify the problem.

Before Lamb’s remarks, Ver tweeted:

“Recently some rumors have been spreading that I have defaulted on a debt to a counter-party. These rumors are false. Not only do I not have a debt to this counter-party, but this counter-party owes me a substantial sum of money, and I am currently seeking the return of my funds.”

Ver was an early investor in Bitcoin and Bitcoin businesses and is currently one of Bitcoin Cash’s most vocal proponents.

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