Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Seeking Alpha 2023-03-07 16:42:04

CoinFLEX's native token jumps after crypto exchange gets restructuring approval

FLEX (FLEX-USD), the native token of cryptocurrency exchange CoinFLEX, climbed 9.3% in Tuesday morning trading after CoinFLEX said it received a green light for its restructuring plan from the Seychelles courts, according to a release. The Seychelles-based company suspended customer withdrawals in June 2022 in the wake of turmoil in the crypto markets at the time. Looking at intraday price action, FLEX (FLEX-USD) changed hands at $1.92 after trading as high as $2.05 earlier in the session. The upswing comes despite downward pressure taking hold among major cryptos. Trading in locked assets has been halted, CoinFLEX said in the release . "We are looking to implement the restructuring quickly and will not restart Locked Assets trading until 24hrs after the publication of the court order to allow all locked asset holders to be sufficiently informed." About one month after pausing withdrawals, CoinFLEX allowed customers to withdraw up to 10% of their account balances .

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.