, through which it had hoped to monetize the personal collateral of the alleged customer whose account ran into negative equity.large individual customer,” the customer was obligated to send more collateral to the exchange to support its positions before liquidation.
There was also an arrangement to personally indemnify the exchange for shortfalls in the account following the liquidations of its positions. CoinFLEX alleged that liquidating the collaterals in a bear market was a difficult task leading it to incur a deficit of $84 million which the customer allegedly failed to pay back.
In addition to the arbitration proceedings, the exchange is looking to raise, “a significant amount of funds from investors.” According to the update, CoinFLEX confirmed that, “There are a number of investors in this group of large depositors who have indicated that they may be in a position to help the business move forward if we can all find a workable solution. We remain extremely encouraged by these conversations.”Further to the steps outlined above, CoinFLEX came up with a “plan to create some temporary liquidity for CoinFLEX depositors.” According to the co-founders, the exchange intends to make available for withdrawal now, only 10% of customers’ balances.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
With fresh start in Seattle, Ryan Borucki not feeling Blue about being bounced by JaysSEATTLE – Ryan Borucki isn’t the vindictive type and he has mostly gratitude for his professional life with the Blue Jays.
Source: ottawasuncom - 🏆 4. / 92 Read more »
Kananaskis country user groups call for change to management around off-road vehiclesSeveral user groups in Kananaskis Country are continuing to raise concerns over activity fees in the area and the way they are enforced.
Source: calgaryherald - 🏆 64. / 52 Read more »
K-country user groups call for change to off-road vehicle managementSeveral user groups in Kananaskis Country are continuing to raise concerns over activity fees in the area and the way they are enforced.
Source: calgarysun - 🏆 63. / 52 Read more »
K-country user groups call for change to off-road vehicle managementSeveral user groups in Kananaskis Country are continuing to raise concerns over activity fees in the area and the way they are enforced. Once again JasonNixonAB's incompetence is highlighted.🤡 Perhaps your writer 'forgot' the UCP uproar when the NDP tried to bring in better regulation of this area. Shame on the abusers of these trails. UCPfail Yegmedia YCCmedia Ableg Abpoli
Source: calgarysun - 🏆 63. / 52 Read more »
With fresh start in Seattle, Ryan Borucki not feeling Blue about being bounced by JaysSEATTLE – Ryan Borucki isn’t the vindictive type and he has mostly gratitude for his professional life with the Blue Jays.
Source: ottawasuncom - 🏆 4. / 92 Read more »
Gas pipeline shutdown starts amid German suspicion of RussiaA major gas pipeline from Russia to Germany shut down for annual maintenance on Monday amid German concern that Russia may not resume the flow of gas as scheduled. But they have all summer to switch over to solar. Why would Trudeau exempt Russian sanctions when it only affects the environment. Sending this equipment to Germany is not help with climate change, it only helps the Russian pocketbook Trump warned Germany years ago to stop depending on Russian oil....he was right. Who is laughing now?
Source: CTVNews - 🏆 1. / 99 Read more »