The beleaguered exchange plans to raise $47 million from large investors to solve its withdrawal issues.
Last week, cryptocurrency derivatives exchange CoinFLEX joined a growing list of digital asset platforms to halt withdrawals due to market uncertainty and issues with its counterparty. The company has now unveiled a recovery plan that involves the creation of a new token.the solution on Monday, CoinFLEX said it plans to raise $47 million through the issuance of a new token dubbed Recovery Value USD .
The whitepaper further revealed that the issuance is only available to sophisticated investors outside the United States, and the minimum subscription amount is 100,000 USDC. It will start today, June 28, and run until Friday, July 1. The firm said investors would receive a 20% annual rate on the new token accrued and paid daily via rvUSD.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
CoinFLEX plans new token to raise funds days after halting withdrawalsCoinFLEX plans new token to raise funds days after halting withdrawals By AdamMorganMc
Lire la suite »
CoinFLEX to Launch a $47M Recovery Token to Solve Withdrawal IssuesCoinFLEX said last week it was halting withdrawals amid market declines and counterparty uncertainty.
Lire la suite »
CoinFLEX recovery plan includes tokenized bad debt and more yieldsAnother centralized crypto lending firm could be in dire straits. CoinFLEX halted withdrawals a few days ago and has now revealed that it will sell rvUSD tokens to recover $47 million in funds lost from a single whale’s bad debt.
Lire la suite »
Shiba Inu Team Announces Bone Farms Proposal ResultsShiba Inu community has voted to cap supply of BONE governance token at 250 million
Lire la suite »
Binance Will Support the RAMP (RAMP) Token Swap, Redenomination & Rebranding Plan to LeverFi (LEVER) | Binance SupportFellow Binancians, Binance will support the RAMP (RAMP) token swap, redenomination and rebranding plan to LeverFi (LEVER). Timeline: At 2022-06-29 04:00 (UTC), Binance will suspend RAMP/USDT, RAMP/...
Lire la suite »
Iran launches rocket as nuclear talks set to resume, state media reportsIt is unclear when exactly the rocket was launched, though state media reported that it was successful.
Lire la suite »