{"id":64188,"date":"2022-07-10T10:45:10","date_gmt":"2022-07-10T07:45:10","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64188"},"modified":"2025-09-06T12:57:49","modified_gmt":"2025-09-06T09:57:49","slug":"coinflex-plans-to-recover-84-million-from-roger-ver","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/coinflex-plans-to-recover-84-million-from-roger-ver\/","title":{"rendered":"CoinFLEX plans to recover $84 million from Roger Ver"},"content":{"rendered":"<p>The CoinFLEX cryptocurrency derivatives platform <a href=\"https:\/\/coinflex.com\/blog\/coinflex-update-july-9-2022\/\">\u043e\u0431\u0440\u0430\u0442\u0438\u043b\u0430\u0441\u044c<\/a> to the Hong Kong International Arbitration Centre (HKIAC) to recover $84 million owed by Roger Ver after the forced liquidation of his position.<\/p>\n<p>In late June the platform <a href=\"https:\/\/forklog.com\/en\/news\/coinflex-suspends-withdrawals-and-trading-of-its-own-token\">\u043f\u0440\u0438\u043e\u0441\u0442\u0430\u043d\u043e\u0432\u0438\u043b\u0430 \u0432\u044b\u0432\u043e\u0434 \u0441\u0440\u0435\u0434\u0441\u0442\u0432<\/a> due to \u201cextreme market conditions\u201d and \u201cuncertainty regarding the counterparty.\u201d Later, CEO Mark Lamb <a href=\"https:\/\/forklog.com\/en\/news\/coinflex-serves-roger-ver-with-a-notice-of-default\">\u0437\u0430\u044f\u0432\u0438\u043b<\/a> that the counterparty was Bitcoin.com founder Roger Ver.<\/p>\n<p>\u201cBitcoin Jesus\u201d allegedly received a loan from CoinFLEX on unique terms. His position had no liquidation price \u2014 in exchange he provided liquidity to the platform. Ver himself denied involvement in the debt.<\/p>\n<p>The company noted that the initial assessment of losses from Ver&#8217;s liquidation was incorrect, as it did not account for his \u201csignificant\u201d collateral in FLEX tokens.<\/p>\n<p>The CoinFLEX team intends to recover $84 million through HKIAC. The company stressed that lawyers assessed the likelihood of success positively in the proceedings.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe arbitration process is lengthy. In our assessment, it will take about 12 months to obtain a court ruling in Hong Kong. After that, we will be able to seize his assets worldwide,\u201d the statement said.<\/p>\n<\/blockquote>\n<p>CoinFLEX said the company expects to raise funds from investors. The platform also proposed to major clients \u201cconvert part of their deposits into equity.\u201d<\/p>\n<p>Earlier the company <a href=\"https:\/\/forklog.com\/en\/news\/coinflex-to-launch-47-million-token-sale-to-resume-customer-withdrawals\">\u0430\u043d\u043e\u043d\u0441\u0438\u0440\u043e\u0432\u0430\u043b\u0430<\/a> the launch of the Recovery Value USD (rvUSD) token. Through the corresponding token sale, the platform planned to settle Ver&#8217;s debt and resume withdrawals.<\/p>\n<p>According to the report, rvUSD are used \u201cto enhance liquidity in its original or modified form.\u201d<\/p>\n<p>In July, CoinFLEX <a href=\"https:\/\/forklog.com\/en\/news\/coinflex-delays-resumption-of-withdrawals\">\u043e\u0442\u043b\u043e\u0436\u0438\u043b\u0430 \u0432\u043e\u0437\u043e\u0431\u043d\u043e\u0432\u043b\u0435\u043d\u0438\u0435 \u0432\u044b\u0432\u043e\u0434\u0430 \u0441\u0440\u0435\u0434\u0441\u0442\u0432<\/a>, citing protracted talks with investors.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 crypto news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The CoinFLEX cryptocurrency derivatives platform has turned to the Hong Kong International Arbitration Centre (HKIAC) to recover $84 million owed by Roger Ver after the forced liquidation of his position.<\/p>\n","protected":false},"author":1,"featured_media":64189,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2318,105],"class_list":["post-64188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinflex","tag-roger-ver"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=64188"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64188\/revisions"}],"predecessor-version":[{"id":64190,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64188\/revisions\/64190"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/64189"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=64188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=64188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=64188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}