• September 28, 2023


All the latest cryptocurrency news

Crypto Derivatives Platform CoinFLEX Reveals a Business Restructuring Proposal

Reading time: < 1 minute

Crypto derivatives platform CoinFLEX has just submitted a business restructuring plan.

As part of the plan, the company has offered to transfer 65% of the capital to the lender, 15% to the team under the ESOP, and leave the Series B investors as shareholders.

The company CEO Mark Lamb has said:

“We believe the proposal outlined here is an excellent outcome for all parties and are distributing CoinFLEX Voting Tokens (CFV) to all creditors.”

The proposal will be voted on the Snapshot platform. CFV will be credited to users whose assets are blocked and to holders of wrapped Bitcoin Cash (sBCH) on the Smart Bitcoin Cash (SmartBCH) blockchain. Holders of flexUSD on the Ethereum and SmartBCH networks will also be able to vote.