Mark Lamb

Crypto exchange CoinFlex is “unlikely” to resume withdrawals on Thursday, June 30 as it had originally hoped, according to its CEO Mark Lamb, as the company continues to search for buyers of its $47 million bad debt.  Speaking to CNBC on Wednesday, Lamb said more time was needed before it could reopen the platform for withdrawals, stating: “We will need more time. And it’s unlikely that withdrawals will be re-enabled tomorrow.” The crypto exchange had been banking on a $47 million token offering launched on Tuesday, June 28 which is known as Recovery Value USD (rvUSD). The token offering was created in an attempt to sell off its bad debt after one of its accounts went into negative equity. In a statement on Tuesday, the company said it hoped withdrawals could restart as previously pla...