The agreement between CoinFlex and Ver meant that if the investor failed to meet a margin call, then his positions would not be automatically liquidated as would normally be the case.
A margin call is a situation in which an investor must commit more funds to avoid losses on a trade made with borrowed cash.
Lamb said that CoinFlex felt comfortable to go into such an agreement because of the “data we’d seen around his capitalization.”
But CoinFlex will now be eliminating such agreements, Lamb said.
“In hindsight, having no non-liquidation agreements would have definitely been better,” Lamb said.
作者: sec2100 時間: 2022-6-30 08:34
To fix the $47 million hole in CoinFlex’s balance sheet, the company is issuing a token called Recovery Value USD, or rvUSD, and enticing investors with a 20% interest rate for holding the virtual currency. Lamb said the ability to pay that interest rate would come from recouping the funds from Ver plus a “financing charge” that has been imposed on him.