CoinFLEX
CryptoSeychellesClosed 2022
Total Raised
$16M
Peak Valuation
Undisclosed
Employees
—
Year Collapsed
2022
Business model
Cryptocurrency futures and spot exchange with a physically-delivered stablecoin product.
In brief
Operated a crypto derivatives exchange and halted all withdrawals in June 2022, citing a $47-84M debt owed by a major counterparty later identified as early Bitcoin investor Roger Ver. Unable to recover the funds through direct negotiation, it entered restructuring in a Seychelle…
See the What Happened tab for the full account.
Key facts
- Founded
- 2019
- Closed
- 2022
- Headquarters
- Seychelles
- Industry
- Crypto
- Employees
- —
- Revenue
- Undisclosed
- Founders
- Mark Lamb, Sudhu Arumugam
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Often compared with: Binance, Coinbase.