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Podcast: Raoul Pal: The Journey Man
Episode: Special Report: CoinFLEX Fallout
Description: When CoinFLEX halted customer redemptions on June 23, it became the latest casualty of a crypto correction that’s dragged multiple companies into fights for survival. Unlike many that fell before it, CoinFLEX says it wasn’t a direct victim of liquidity issues at Celsius or the default by Three Arrows Capital. Rather, according to CEO Mark Lamb, “extreme market conditions” and a single account holder – identified by Lamb on Twitter as early Bitcoin investor Roger Ver – brought CoinFlex down. Lamb said Ver owes CoinFLEX $47 million worth of USDC and that his account had gone into default. Lamb’s tweets followed short...