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CoinFLEX Founder Offers Bitcoin Evangelist Roger Ver ‘Olive Branch’ to Settle Alleged $84M Debt

Mark Lamb, co-founder of CoinFLEX, has offered Bitcoin evangelist and Bitcoin Cash promoter Roger Ver an “olive branch” in the form of two years of free trading on OPNX, a newly-launched claims exchange that Lamb co-founded.

Lamb is seeking to end a longstanding feud between the two which began when Lamb accused Ver of defaulting on a $47m loan in June 2020. In a new open letter to Ver, Lamb also requested that Ver agrees a payment plan for the now $84m deficit he owes CoinFLEX. Alongside Ver, Lamb also asked Peter Smith, CEO and founder of crypto exchange Blockchain.com, to pay the 3 million FLEX Coin he reportedly owes CoinFLEX via his offshore Blockchain.com Cayman entity.

The letter promises Ver and Smith an equity stake in OPNX once they comply. Lamb outlined the tokenization of debt to save CoinFLEX’s creditors and the Bitcoin Cash community from “long drawn-out legal processes” by offering a liability token called “Recovery Value USD” (rvUSD) on OPNX.

The concept of rvUSD was first suggested in June 2020 when details of Ver’s multi-million dollar debt first came to light. The CoinFLEX community unanimously approved the plan to tokenise debt in September 2020, as did a Seychelles court in March 2022, after CoinFLEX halted withdrawals and filed for restructuring citing “extreme market conditions” and "continued uncertainty involving a counterparty", referencing Ver’s debt.

(By Tim Hakki)

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