The drama in the Crypto world

As many of you may already know that currently a lot of things are going on in the Crypto world and particularly in the BitcoinCash community.

Yeah I am talking about the tensions between Mark Lamb Vs Roger Ver which has a lot going on right now.

@Pantera has wrote a great article explaining it all in his article and I recommend that you read that if you don't know what exactly is going on with the two,

You can find the article >>> Here

Marc Falzon explains

I am a avid follower of Marc and his videos on YouTube, his latest videos talks about the same as well as the situation with flexUSD and CoinFlex.

Check out Marc's latest video:

The present value of flexUSD

If you don't know, flexUSD is an stable token pegged to the dollar on both SLP and SmartBCH

Just recently the peg of flexUSD broke as the price of the token fell by more than 50%

For reference the price of the token at the time of writing is at about $0.36 on CoinGecko

The UST scenario

I have written about flexUSD before and am holding some tokens as well, most I had converted some time ago when I just wanted sure about the situation with the SLP tokens.

And just recently bitcoin.com wallet has discontinued the support for SLP tokens, luckily I converted all my SLP flexUSD tokens using CoinFlex.

Now the situation with the flexUSD token losing its peg brings up dread because of the recent collapse of LUNA and UST stable token.

flexUSD is the stable coin of SmartBCH network and its present state is a cause for concerns.

But it seems that CoinFlex are at work in fixing it situation and solving the de-pegging problem.

The rvUSD token

The withdrawal from CoinFlex exchange have been paused for now due to the present situation and they are bringing out a new token called the rvUSD which will have a 20% interest rates to fixed the situation

Now as Marc explained that this token is not being issued to the general public but to the High Net Worth Individuals in order to protect the consumers from taking on too much risk associated with the token as it can go to Zero if the CoinFlex isn't able to recover and collapse.

What I feel is that this is a way to keep the regulators like the SEC at bay

If they had issued this token to the public it would have brought a lot of unwanted heat from the SEC and other Investment regulators that are already at Crypto.

Another controversy regarding the token is the Roger Ver initials in the token's name

A lot of people believe that 'rv' in the rvUSD stands for Roger Ver and because of that @RogerVer is the major invest behind it.

Which sounds like complete BS to me as even if he was why would they name it after him anyways, makes no sense.

But I could be wrong and the whole public fight is a ploy to discredit the whole story.

Now I am not making any statements or making any assumptions and that's just a random thought.