Crypto Exchange Reveals 'Bitcoin Jesus' Roger Ver Owes It $47M: What Next?

CoinFLEX CEO Mark Lamb has publicly revealed that Roger Ver is the high net worth client who owes the cryptocurrency exchange $47 million.

What Happened: In a series of tweets on Tuesday, Lamb said that Ver owes $47 million worth of USDC.

Ver is popularly known as “Bitcoin Jesus” because he was one of the first high-profile Bitcoin BTC/USD investors. He is also known for his role in the creation of Bitcoin Cash BCH/USD and for serving as executive chairman of Bitcoin.com.

See Also: 'Bitcoin Jesus' Roger Ver Now Backs Dogecoin 

Lamb made his statements about Ver public after the latter took to Twitter saying the rumors about his default on debt were false, and that the counter-party in question actually owed him a “substantial sum of money.”

The CoinFLEX CEO stated that the debt in question is 100% related to Ver’s account, despite the investor's continued denial.

Last week, CoinFLEX halted all withdrawals on its platform citing uncertainty associated with a counterparty, which it now claims is Ver.

In order to recoup losses associated with his account, the exchange proposed launching a Recovery Value USD (rvUSD) Token, offering investors a 20% yield on investment in the token.

"In normal circumstances, we would auto-liquidate a position that runs low on equity at prices that are prior to the zero-equity price," stated CoinFLEX, explaining that an exception was being made due to the individual in question being a “high integrity person of significant means.”

Industry watchers have dubbed the somewhat unorthodox recovery strategy of the centralized exchange “amazingly degen.”

Photo via photo_gonzo on Shutterstock

Posted In: BitcoinBitcoin JesusCoinFLEXRoger VerCryptocurrencyNewsMarkets

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