Why is CoinFLEX cancelling withdrawals?

Physical futures crypto exchange CoinFLEX is pausing withdrawals citing “extreme market conditions” along with uncertainty around a certain counterparty, its CEO Mark Lamb said in a blog post Thursday. Lamb said the counterparty is not Three Arrows Capital or “any lending firm.”

What are withdrawals?

Withdrawals are weekly payouts for funded traders on a minimum of 5% of ROI. Requests made on or before Thursday of the week will be paid out on Friday of the… More... Success in this role will require a data-driven, analytical approach, with a high degree of cross-functional collaboration, including with Growth Enablement, CS…

What is an example of a market withdrawal?

For example,a product removed from the market due to tampering, without evidence of manufacturing or distribution problems, would be a “market withdrawal.” Food safety standards like BRC, IFS, and FSSC 22000 use the term withdrawals to describe a product recall that has not yet reach the final consumer.

Are the terms & conditions for withdrawal available online?

Everyone's situation is different, and depending on your retirement plan, the official terms and conditions for withdrawal document will vary and is not available online. If you need an official document explaining the Terms and Conditions for Withdrawal, please contact our Customer Solutions team to request this document.