Troubled Exchange CoinFLEX Confirms Bitcoin.com’s Executive Chairman Owes It $47M

“The debt is 100% related to his account,” CoinFLEX CEO Mark Lamb says

article-image

Bitcoin.com CEO Roger Ver | Source: LeWeb/"Roger Ver" (CC license)

share

key takeaways

  • After halting withdrawals last week, CoinFLEX announced it would launch a new token to raise $47 million
  • Ver denies that he is the debtor and says CoinFLEX owes him a substantial amount of money

The chief executive of CoinFLEX alleged Tuesday that the former CEO of crypto trading platform and wallet provider Bitcoin.com owes the cryptocurrency exchange $47 million.

CoinFLEX CEO Mark Lamb tweeted that Roger Ver, current executive chairman of Bitcoin.com, is a longtime customer and the counterparty whose outstanding debt forced the derivatives-focused exchange to halt withdrawals last week. The company on Monday moved to issue a new token, rvUSD, to stabilize its balance sheet, with the goal of raising at least $47 million. 

Loading Tweet..

Lamb told Bloomberg rvUSD will have a 20% yield, and — if $47 million is raised — users would be able to withdraw their funds in full. 

After being suspected as the debtor by the anonymous crypto market participant FatManTerra, Ver initially denied.

“Not only do I not have a debt to this counter party, but this counter party owes me a substantial amount of money,” Ver said at the time. 

Loading Tweet..

In defense of CoinFLEX, Lamb tweeted that “[Ver] is denying that the debt pertains to him and so we felt the need to clarify to the public that yes — the debt is 100% related to his account.”

He added that his company does not owe any debts to Ver, and that “his statement is blatantly false.”

Ver has been a proponent of a 2017 bitcoin fork, Bitcoin Cash (BCH), which was later split again into Bitcoin Cash ABC (remaining known as BCH) and Bitcoin Cash Satoshi’s Vision (BSV) the brainchild of Craig Wright. Despite neither fork being embraced by the market as the canonical bitcoin, they currently rank at number 32 and 49 by market cap, with the cryptoassets together worth about $3 billion, or about 0.7% the value of BTC.

As a bitcoin evangelist, Ver became known as “Bitcoin Jesus.” He renounced his US citizenship in 2014, motivated in part by his experience serving 10 months in federal prison for illegally selling explosives on eBay.

CoinFLEX and Ver did not immediately return requests for comment.

Correction: Roger Ver has served as the executive chairman of Bitcoin.com since Aug. 1, 2022. Dennis Jarvis is the current CEO. Updated June 29, 2022 at 9:00 am ET.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Content Delivery Networks (CDNs) represent low-hanging fruit in a massive market ripe for Web3-driven disruption. The global CDN market was valued at ~$28B in 2024, and is projected to surpass $140B by 2034, (18.75% CAGR) underscoring the immense demand for efficient content delivery.

article-image

Sponsored

With early interest from an initial cohort of brands including Metaplex, Story Protocol, and Pipe Network, Shelby offers decentralized, cloud-speed storage for streaming, AI, and real-time content

article-image

The $135 million raise shows that TradFi giants are serious about crypto adoption

article-image

The banking system still processes payments like it’s 1975. Crypto might have a fix.

article-image

Fiserv’s launch follows Senate passage of the GENIUS Act for stablecoin regulation.

article-image

Bitcoin is emerging as “the new standard for long-term corporate resilience,” Swan Bitcoin CIO says

article-image

Cybersecurity experts explain how the attack could have been prevented