CoinFLEX serves Roger Ver with a notice of default

Bitcoin.com founder Roger Ver owes CoinFLEX $47 million in USDC. The platform sent a ‘Bitcoin Jesus’ notice of default, according to chief executive Mark Lamb.

Roger Ver owes CoinFLEX $47 Million USDC. We have a written contract with him obligating him to personally guarantee any negative equity on his CoinFLEX account and top up margin regularly. He has been in default of this agreement and we have served a notice of default.

— Mark Lamb 💪 (@MarkDavidLamb) June 28, 2022

“Roger Ver owes CoinFLEX $47 million in USDC. We entered into a written agreement with him obligating him to personally cover any negative equity on his CoinFLEX account and regularly top up margin. He has not fulfilled the terms of the agreement, and we have served him a notice of default”, Lamb wrote.

Earlier the platform announced the Recovery Value USD (rvUSD) token. The company said that with it it planned to raise $47 million to repay the debt of a ‘solvent’ private client and resume withdrawals. 

On June 27, Lamb said the company had run into trouble due to a long-standing client who was lent on bespoke terms. In his view, there is no liquidation price — instead he provides liquidity to the platform. However, amid the crisis, his position became unprofitable.

It appears that this person was Ver. He denies involvement in the debt position.

“He denies that the debt belongs to him, so we deemed it necessary to explain to the public that yes — the position 100% belongs to his account. Roger Ver is an EU citizen who, in our opinion, possesses substantial assets in the US, the UK, and other relevant jurisdictions”, Lamb said.

The head of CoinFLEX also stressed that the platform has no debt obligations to Ver, and his statements are ‘blatant lies’. 

Shortly before Lamb’s remarks, the founder of Bitcoin.com posted a tweet stating that he owed no debt to the counterparty.

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.

— Roger Ver (@rogerkver) June 28, 2022

“There are rumours that I defaulted on a debt to a counterparty. This information is false. Not only do I not owe a debt to this counterparty, but he owes me a substantial sum of money as well. I am currently seeking the return of my funds”, — wrote Ver.

Earlier, the cryptocurrency broker Voyager Digital sent Three Arrows Capital a notice of default due to non-payment of the loan.

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