CoinFLEX's native token jumps after crypto exchange gets restructuring approval

FLEX (FLEX-USD), the native token of cryptocurrency exchange CoinFLEX, climbed 9.3% in Tuesday morning trading after CoinFLEX said it received a green light for its restructuring plan from the Seychelles courts, according to a release. The Seychelles-based company suspended customer withdrawals in June 2022 in the wake of turmoil in the crypto markets at the time. Looking at intraday price action, FLEX (FLEX-USD) changed hands at $1.92 after trading as high as $2.05 earlier in the session. The upswing comes despite downward pressure taking hold among major cryptos. Trading in locked assets has been halted, CoinFLEX said in the release . "We are looking to implement the restructuring quickly and will not restart Locked Assets trading until 24hrs after the publication of the court order to allow all locked asset holders to be sufficiently informed." About one month after pausing withdrawals, CoinFLEX allowed customers to withdraw up to 10% of their account balances .