{"id":560698,"date":"2023-03-07T23:33:12","date_gmt":"2023-03-07T20:33:12","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/coinflex-restructuring-approved-in-seychelles-as-rebranding-reportedly-continues\/"},"modified":"2023-03-07T23:33:12","modified_gmt":"2023-03-07T20:33:12","slug":"coinflex-restructuring-approved-in-seychelles-as-rebranding-reportedly-continues","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/coinflex-restructuring-approved-in-seychelles-as-rebranding-reportedly-continues\/","title":{"rendered":"# CoinFLEX restructuring approved in Seychelles as rebranding reportedly continues"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a239aaf9c6e2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a239aaf9c6e2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/coinflex-restructuring-approved-in-seychelles-as-rebranding-reportedly-continues\/#%E2%80%9D_CoinFLEX_restructuring_approved_in_Seychelles_as_rebranding_reportedly_continues_%E2%80%9C\" >&#8221; CoinFLEX restructuring approved in Seychelles as rebranding reportedly continues &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_CoinFLEX_restructuring_approved_in_Seychelles_as_rebranding_reportedly_continues_%E2%80%9C\"><\/span>&#8221; CoinFLEX restructuring approved in Seychelles as rebranding reportedly continues &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvZTYxZDM1NzEtZDBlMS00ZjE3LTgzZDAtZmJjNDljZWVlMzMyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>Crypto investment platform CoinFLEX has received <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval for its restructuring plan from the courts in Seychelles, the company <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinflex.com\/blog\/coinflex-restructuring-is-approved\/\">announced<\/a> March 7 on its blog.\u00a0<\/p>\n<p>The courts are expected to publish the order the same week, the blog post added. Trading in locked assets has been halted until 24 hours after the publication of the court order on the restructuring to allow time for asset holders to be informed. <\/p>\n<p>CoinFLEX halted withdrawals in June after incurring $47 million in losses when an account went negative without being liquidated. CoinFLEX began allowing users to withdraw 10% of their holdings in July and laid off employees to reduce company costs. Nonetheless, it announced a restructuring plan on Sept. 21. <\/p>\n<p>Under the restructuring plan, creditors would receive 65% of the company, and its employees would receive 15%. <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">Series<\/a> B investors would remain shareholders, but Series A investors would lose their equity.<\/p>\n<p>Also on March 7, reports <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DefiIgnas\/status\/1633106300178509824\">emerged<\/a> on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> that: <\/p>\n<blockquote><p>\u201cOPNX will acquire all assets of CoinFLEX including people, tech, and tokens.\u201d<\/p><\/blockquote>\n<p>The Open Exchange (OPNX) was set up by Three Arrows Capital founders Su Zhu and Kyle Davies and CoinFLEX founders Mark Lamb and Sudhu Arumugam. It claimed to be \u201cthe world&#8217;s first public marketplace for crypto claims trading and derivatives\u201d when its website launched on Feb. 9.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Kyle, founder of 3AC, said that OPNX will acquire all assets of CoinFLEX including people, tech, and tokens and FLEX will be their main token. FLEX is used to pay fees and 20% of revenue is used to buy and burn FLEX. There are currently 100 million FLEX tokens in circulation, of\u2026 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/jIfl7iIrNs\">https:\/\/t.co\/jIfl7iIrNs<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1633114968093597696?ref_src=twsrc%5Etfw\">March 7, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>CoinFLEX said in a Jan. 16 blog post that it would be rebranded into the new exchange:<\/p>\n<blockquote><p>\u201cCoinFLEX creditors\/Series B will be the largest class of shareholders, and we are also discussing other benefits. Any funds raised will be used to grow the company and its equity value for shareholders, including the CoinFLEX creditors.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: CoinFLEX attempts to hose down backlash over proposed new 3AC project<\/em><\/strong><\/p>\n<p>The Open Exchange reportedly trades bankruptcy claims and allows customers to use those claims as collateral on new loans. The tokenized claims will not be withdrawable. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/coinflex-restructuring-approved-in-seychelles-as-rebranding-reportedly-continues\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; CoinFLEX restructuring approved in Seychelles as rebranding reportedly continues &#8220; Crypto investment platform CoinFLEX has received approval for its restructuring plan from the courts in Seychelles, the company announced March 7 on its blog.\u00a0 The courts are expected to publish the order the same week, the blog post added. Trading in locked assets has&#8230;<\/p>\n","protected":false},"author":1,"featured_media":560699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/e61d3571-d0e1-4f17-83d0-fbc49ceee332.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,4978,117],"class_list":["post-560698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-bankruptcy","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/560698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=560698"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/560698\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/560699"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=560698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=560698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=560698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}