Summary:
Terra and Crypto Twitter community member @FatManTerra
has suggested that Roger Ver is the high net worth individual who owes CoinFLEX $47 million. @FatManTerra also added that CoinFLEX allowed him ‘to run a deficit because he personally guaranteed he would pay them back.’ He explained:A verified insider has confirmed that the “high net worth individual” who owes CoinFLEX money is Bitcoin Cash advocate & CoinFLEX shareholder Roger Ver.
Ver had a long on BCH, and the platform allowed him to run a deficit because he personally guaranteed he would pay them back.
@FatManTerra’s theory comes from news that CoinFLEX was planning to raise $47 million through a recovery token, rvUSD. The token will be issued at a rate of one USDC per rvUSD, with a maximum of 47 million being allocated.
According to the rvUSD whitepaper by CoinFLEX, the recovery token launch is the result of a high net worth individual owing the platform exactly $47 million. They explained:
rvUSD is a token issued by Liquidity Technologies Ltd. (“CoinFLEX”) related to an outstanding debt owed by a certain high net worth individual (the “Individual”) to CoinFLEX.
The Individual is a long time customer of the CoinFLEX platform and during the recent market volatility, his account went into negative equity. In normal circumstances, we would auto-liquidate a position that runs low on equity at prices that are prior to the zero-equity price.
In this case, the Individual had a nonliquidation recourse account, a condition that means they will not be liquidated in exchange for personally guaranteeing their account equity in writing.
However, Bitcoin Cash’s Roger Ver has since issued a statement via Twitter debunking rumors that he is the individual who owes CoinFLEX $47 million.
In his explanation, Mr. Ver pointed out that he owes no debt to the ‘counter-party.’ Furthermore, the counter-party actually owes him money, and he is currently ‘seeking the return’ of his funds.
His statement on the entire situation, including a response from @FatManTerra, can be seen in the following screenshot.