CoinFLEX
Crypto futures and lending exchange platform CoinFLEX joined the withdrawal freeze party 10 days later than Celsius and Binance. On June 23, citing “extreme market conditions” and continued uncertainty, CoinFLEX announced it would pause all withdrawals. One individual investor reportedly owed CoinFLEX around $47 million.
At the time, CoinFlex CEO Mark Lamb said he was “confident” the situation would be repaired and withdrawals would resume. It seems that confidence was misplaced. Last week, Lamb told CNBC the company probably wouldn’t be able to resume withdrawals the next day as expected. “We will need more time,” Lamb said. “And it’s unlikely that withdrawals will be re-enabled tomorrow.” Withdrawals had not resumed as of June 30, when the company put out its most recent statement.
