Bitcoin Cash (BCH) prices sank on Wednesday after Roger Ver, a major advocate of the blockchain, was accused of owing crypto exchange CoinFlex about $47 million.
In a Twitter statement, CoinFlex CEO Mark Lamb disclosed a written contract with Ver, which obligates the latter to personally guarantee any negative equity. Lamb accused Ver of defaulting on the agreement. Roger Ver, the former CEO of Bitcoin.com, is a big advocate for Bitcoin Cash.
Since the accusations by Lamb, BCH’s prices have tanked by 7% to reach $104.
Bitcoin Cash Price Plummets
Roger Ver- the CEO of Bitcoin.com is one of the biggest promoters of Bitcoin Cash ever since it was hard forked from Bitcoin. Ver believed that Bitcoin should be a peer-to-peer transaction system rather than just being a store of value. The position that caused the loss for Ver was a leveraged 600-800K BCH long.
As a result, BCH has fallen 7% to reach the price of $104.
