TechFlow news — Cryptocurrency derivatives exchange CoinFLEX announced that due to extreme market conditions last week and ongoing counterparty uncertainty, it has suspended all withdrawals and will halt all FLEX Coin perpetual contracts and spot trading in the short term.
CoinFLEX stated it hopes to resume withdrawals under improved market conditions and will provide a withdrawal update on June 27, with withdrawals expected by June 30. These dates are estimates based on CoinFLEX's current understanding of the situation, and further details and updates will be provided as soon as possible.
However, CoinFLEX clarified that the counterparty is not Three Arrows Capital or any lending firm.
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