With regard to this video: https://www.youtube.com/watch?v=UxEDxuLNI70 I'm a little confused. Does this

Question

With regard to this video: https://www.youtube.com/watch?v=UxEDxuLNI70 I'm a little confused. Does this

whole situation have anything to do with FlexUSD?

CoinFlex claims an account that was allowed to go negative lost big time, and owes them 47 million bucks. That may or may not be true, but I'm not seeing the connection to all the other numbers being thrown around.

#bch #bitcoincash #cryptocurrency #english

0

03.07.2022

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sploit#100 🦆

Jeremy
Yes. We currently have no insight into CoinFlex's ...

flexUSD was backed 10% with usdc rest was long/short positions in repo market

0

03.07.2022

Jeremy

sploit#100 🦆
flexUSD was backed 10% with usdc rest was long/sho...

ah yes, but in theory repo positions that should settle out to the same amount of USDC

0

03.07.2022

Jeremy · Accepted Answer

Yes. We currently have no insight into CoinFlex's situation, except that it's bad. So it looks like this: CoinFlex Assets: - 100k SmartBCH of community: Hasn't moved, but propping up CoinFlex balance sheet - Depositor funds: ??? - FlexUSD: ??? Supposedly backed 1:1 with USDC, but in these circumstances it seems unlikely. Has completely depegged in external markets - FlexCoin: Price has crashed as a result of drama, but not redeemable for anything so kind of secondary So yes, FlexUSD is involved because it appears to be not backed and/or the funds that were supposedly backing it are caught up in the same unaccountable mess as everyone's smartBCH and the coinflex depositor's money

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With regard to this video: https://www.youtube.com/watch?v=UxEDxuLNI70 I'm a little confused. Does this

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