Friday, September 30, 2022
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Coinflex plans give 65% of company to creditors as part of restructuring proposal

Cryptocurrency exchange CoinFlex announced a structuring proposal in response to user feedback following the platform experiencing liquidity issues.In a Wednesday blog post, CoinFlex said under the proposal — which will be subject to a vote and then court approval— creditors will own 65% of the company, while its team members

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CoinFLEX Lays Off a Significant Portion of its Team to Reduce Costs by 50 – 60%

Summary: The CoinFLEX team has announced that it has laid off a significant portion of its team to cut operational costs by 50 to 60%. CoinFLEX has also made cuts in non-staff costs. The team explained that the cost-cutting was meant to transform the exchange into a leaner business. The CoinFLEXCoinFLEX Resumes Crypto Trading

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Exchange cripto CoinFLEX recorta equipo “significativamente” para reducir costos

“Monitorearemos costos para asegurarnos operar tan eficientemente como sea posible. La intención es mantener el tamaño adecuado para cualquier entidad que esté considerando una posible adquisición o una oportunidad de asociación con CoinFLEX”, dijeron los cofundadores Sudhu Arumugam y Mark Lamb en la publicación del blog. Original Source

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CoinFLEX announces staff cuts as part of measures to reduce costs by up to 60%

Cryptocurrency exchange CoinFLEX said it had downsized a “significant number” of team members in an effort to cut operating costs.According to a Friday blog post, CoinFLEX said it had cut some staff across “all departments and geographies” as part of measures to reduce the company’s costs by 50% to 60%.

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CoinFLEX Resumes Crypto Trading With Limited Withdrawals of Up to 10% of User Funds

Summary: CoinFLEX has announced the resumption of crypto exchange trading services. However, withdrawals will be limited to 10% of user funds as 90% of all users’ assets are locked. The CoinFLEX crypto exchange has announced the resumption of previously suspended crypto exchange services. This includes crypto trading and withdrawals. However. crypto withdrawals will

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CoinFLEX resumes withdrawals, limiting users to 10%

Cryptocurrency exchange CoinFLEX is partially reopening user withdrawals, raising cautious optimism that the company was gradually recovering from liquidity constraints that were triggered by a high-profile client default. Beginning at 5 am UTC on Friday, all CoinFLEX users will be able to withdraw up to 10% of their funds, the company

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