CoinFLEX Reveals Restructuring Proposal

CoinFLEX reveals restructuring proposal. 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 company. CoinFLEX said that the proposal also includes an agreement with the BCH alliance that would see the alliance assume responsibility of the SmartBCH Bridge. If approved, the takeover would mean that "$BCH on the SmartBCH network will be 1:1 redeemable for $BCH via the SmartBCH Alliance."