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Crypto Exchange CoinFlex Floats Debt Restructuring Arrange for Creditors to possess 65%

  • Vote on proposed restructuring plan arrives in coming week

  • Most shareholders are certain to get wiped out, in accordance with CoinFlex

Cryptocurrency exchange CoinFlex has detailed a restructuring plan where creditors will own 65% of the business, with a vote on the proposal coming on the in a few days.

Existing ordinary and Series A shareholders will eventually lose their equity stakes, as the CoinFlex team will undoubtedly be allocated 15% by means of a worker share option plan that may vest as time passes. Series B investors will still be shareholders and you will be incentivized with future equity, a statement showed.

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