Will CoinFLEX raise $47m in RVUSD?

Specifically, CoinFlex is expecting to raise $47M in rvUSD after the clients' account fell into negative equity last week amid recent volatility in crypto prices, the derivatives-focused exchange wrote in a whitepaper on Monday.

Why did CoinFLEX issue $47 million in tokens?

CoinFLEX's issuance of $47 million in tokens comes after a certain individual’s account went into negative equity during recent market volatility. The issuance will begin tomorrow and likely run until July 1, CoinFLEX wrote in a white paper Monday.

Will CoinFLEX resume withdrawals June 30?

"We have been speaking to potential large buyers and believe there is significant interest in the terms presented," CoinFLEX CEO Mark Lamb said in a blog post. CoinFLEX expects to resume withdrawals June 30, but is still subject to receiving funds pursuant to the rvUSD issuance.

How does system 47 work?

System 47 works with third-party translation software that translates EDI standard data into a flat file format so that the JD Edwards EnterpriseOne application software can manage the data. When you receive documents, the third-party translation software: Retrieves the data via network communications.