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Crypto exchange CoinFlex probably won’t resume withdrawals Thursday as planned, says CEO
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"Embattled cryptocurrency exchange CoinFlex will probably not be able to let customers withdraw money again on Thursday as it originally planned, CEO Mark Lamb said on Wednesday.
“We will need more time. And it’s unlikely that withdrawals will be re-enabled tomorrow,” Lamb told CNBC.
However, CoinFlex is in talks with several large funds interested in buying the $47 million in debt allegedly owed by investor Roger Ver, Lamb added.
CoinFlex is the latest victim of the cryptocurrency price crash that has seen billions of dollars wiped off the market in the latest “crypto winter.” Bitcoin has lost more than 50% of its value this year, and is off about 70% from its all-time peak last November, while ether is down 70% this year and more than 75% from its peak.
The cryptocurrency exchange paused withdrawals for customers last week citing “extreme market conditions,” and said an individual investor owed it around $47 million. Initially, CoinFlex did not name the customer, but on Tuesday, Lamb claimed the investor is Roger Ver, who has been dubbed “Bitcoin Jesus” for his evangelical views on cryptocurrency in the early days of the industry.
Ver has denied that he owes CoinFlex the money. Ver was not immediately available for comment on this story when contacted by CNBC."
wait till Bitcoin plummets to 10k and all exchanges shut down and close shop
[link to www.cnbc.com (secure)]
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