Doug Polk Resigns from CoinFlex, Criticizes Phil Hellmuth's Crypto Endorsement

Doug Polk has resigned from his position as lead ambassador for CoinFlex. The resignation comes after the exchange paused withdrawals due to 'extreme market conditions' leaving the firm short of capital. Polk, who was the lead ambassador for CoinFlex, expressed his disappointment with the exchange's actions.

In a statement, Polk said, “Recently CoinFlex paused withdrawals due to ‘extreme market conditions’ This is, in my opinion, not an acceptable action for an exchange to take. I hope that CoinFlex can figure out a way to get the money and get people paid back. But whether they do or not, I want to say sorry to the viewers of this channel that have been put in harm’s way… because of the actions taken by CoinFlex.”

Following his resignation, Polk took to social media to defend his character and criticized Phil Hellmuth for being sponsored by Bitcoin Latinum, a crypto firm involved in securities fraud. Polk stated, “I told you this personally before but will say it here as well. Anytime a coin pops up that uses 'Bitcoin' or 'Ethereum' in the name. It's a scam. The entire community knows this.”