CoinFLEX reveals restructuring proposal

Quick Take

  • The digital currency exchange will turn over 65% of its equity to creditors, vest 15% to the team, and said Series B investors also will remain shareholders.
  • Specific details on what steps must be taken to vote on the proposal will be released by the CoinFLEX team.

CoinFLEX, a Seychelles-based crypto exchange, today announced an official restructuring proposal and what immediate next steps the company will take.

Creditors, defined in a term sheet the company released, will own 65% of the company. The CoinFLEX team will be allocated 15% of remaining company shares, to vest over time in an employee share option program (ESOP). Series B investors, in turn, will also remain shareholders in the restructured c