Crypto exchange CoinFlex probably won’t resume withdrawals Thursday as planned, says CEO

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.

Source: https://www.cnbc.com/2022/06/29/coinflex-ceo-unlikely-to-resume-withdrawals-thursday.html