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

Cryptocurrency exchange CoinFlex announced a structuring proposal in response to user feedback following the platform experiencing liquidity issues.

In a Wednesday blog post, CoinFlex said under the proposal — which will be subject to a vote and then court approval— creditors will own 65% of the company, while its team members will be allocated 15% of shares as part of an employee share option plan. According to the platform, Series B investors would remain shareholders in the restructured company should the plan be approved.

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