Coinflex Plans Give 65% of Company to Creditors as Part of Restructuring Proposal

Coinflex Plans Give 65% of Company to Creditors as Part of Restructuring Proposal


Coinflex plans give 65% of company to creditors as part of restructuring proposal

Cryptocurrency exchange CoinFlex has announced a structuring proposal in response to user feedback over the platform’s liquidity issues.

In a Wednesday blog post, CoinFlex said under the proposal — voted on and subsequently voted on by the court — creditors will own 65% of the company, while team members will receive 15% of the stock as part of an employee stock option plan. According to the platform, Series B investors would remain shareholders in the restructured company if the plan is approved.

Read more on Coin Telegraph

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