CoinFlex seeking to recover $84 million from single client

The company sent out a notice on its restructuring process in emails to customers on Tuesday. It will seek approval from depositors and court on a proposal to issue depositors with rvUSD tokens, equity, and locked FLEX Coin.

CoinFlex froze withdrawals in June after a counterparty, which it has identified as crypto investor Roger Ver, failed to pay a margin call. Ver, however, denied he defaulted on debt owed to CoinFlex.