FLEX Token Rises 21% After CoinFLEX Restructuring Plan Approved

Markets

FLEX, the native token of the CoinFLEX exchange, has jumped 21% after the company received approval for a restructuring plan by the Seychelles courts.

CoinFLEX filed for restructuring last August after it suspended withdrawals amid a liquidity crunch in June.

The token is currently trading at $1.96, up 21% over the past 24 hours.

The exchange in a statement said that trading in locked assets, including LUSD and LETH, will remain so until the Seychelles court publishes the written court order.

In the proposed restructuring first laid out in September, CoinFLEX said creditors would own 65% of the company and that Series A investors would lose their equity stakes.

23 April

Business

2 days ago

Thailand takes a cue from India and the Philippines, plans to block unlicensed crypto exchanges to combat online crimes. Thai SEC to submit list of offenders to Ministry of Digital Economy and Society. Investors were warned to withdraw funds from unregistered platforms.

General

2 days ago

RFK Jr. proposes putting the entire U.S. budget on blockchain, promises transparency and accountability. Advocates praise the move for revolutionizing public accounting. Some critics raise concerns over CBDC implications.

Tech

2 days ago

Bitcoin's 'DeFi summer' moment is heating up as miners rake in a record $100 million post-halving, fueled by Runes token hype and soaring transaction fees. Analysts suggest this surge reflects a shift towards utility tokens on Bitcoin, potentially unlocking a new market worth billions.

Policy

2 days ago

Hong Kong approves spot Bitcoin, Ethereum ETFs amid growing crypto acceptance. China Asset Management & Harvest Global Investments get conditional approval from SFC.

09 April

Markets

16 days ago

Bitcoin breaks past $71K after flirting with the $70,000 level. Altcoins follow the example with impressive gains. Ethereum reclaims $3,500, while DOGE and WIF soar again. Total crypto market cap surges by $70 billion in just a day.

Policy

16 days ago

Binance executive Tigran Gambaryan pleads not guilty to money laundering charges in Nigeria. Amid accusations and legal battles, Gambaryan asserts innocence as the case unfolds. Regulatory scrutiny intensifies in the crypto industry.

Business

16 days ago

Crypto investment products soar with record year-to-date inflows of $13.8 billion! Despite signs of ETF hype moderating, funds at BlackRock, Fidelity, Grayscale, & more saw $646 million in inflows last week. Bitcoin products dominate, while altcoins like Litecoin & Solana also attract investors.

General

16 days ago

Federal watchdog scrutinizes crypto gaming, citing concerns over trading volumes and worker exploitation. The Consumer Financial Protection Bureau highlights the surge in gaming tokens' market cap, urging caution amidst scams and criminal activities.

Tech

16 days ago

Ethereum's Layer 2 networks are on track to hit a $1 trillion market cap by 2030, according to VanEck analysts. Optimistic Roll-Ups and Zero-Knowledge Roll-Ups are set to revolutionize scalability, unlocking new growth opportunities.

28 March

Markets

28 days ago

BTC dominance rises as altcoins retreat. TON leads the drop losing 9% in value. Despite failing to surpass $71,000, BTC holds ground at just under $70,000. Altcoins suffer further retracement, with ETH down 3%. Market cap dips $50B+.

FLEX Token Rises 21% After CoinFLEX Restructuring Plan Approved

Related news

Bitcoin Stable Above $64K While ETF Outflows Hit $200M

Kara Swisher Downplays Crypto's Significance: 'It's Not the Center of Everything'

Bitcoin Dips to $63K as Rate Cut Hopes Dim Following Disappointing U.S. Inflation Report

First Mover Americas: Bitcoin Drops Below $64K, Ether Falls

BlackRock's Bitcoin ETF Snaps 71-Day Inflows Streak, Data Show

Why Base Chain Has Potential to Lock the Next Generation of Crypto Users

Ready to explore with XBO.com?