Zipmex Opens Crypto Withdrawals After Pausing Due To Volatile Markets
The recent crypto winter plunged some crypto firms into insolvency. Also, the collapse of Terra algorithmic stablecoin and its native token, LUNA, aided the devastating effect of the bearish trend. As a result, almost all the assets in the crypto space experienced a massive decline in their prices and values. The overall events brought billions […]
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Cryptocurrency exchange Zipmex has halted withdrawals due to “volatile market conditions, and the resulting financial difficulties of our key business partners.” The exchange operates in Singapore, Australia, Indonesia, and Thailand. Zipmex Pauses Withdrawals Crypto exchange Zipmex, which operates in Singapore, Australia, Indonesia, and Thailand, has become the latest crypto company to halt withdrawals. The platform described itself as “Asia’s leading digital asset exchange providing you high liquidity and insurance on your assets.” On Wednesday, Zipmex....
Crypto exchange Zipmex has now resumed withdrawals for a few altcoins apart from Bitcoin and Ethereum. So far, there are no updates about Bitcoin and Ethereum withdrawals. The halt in withdrawals on Zipmex happened after the two other exchanges Babel and Celsius froze withdrawals. The crypto exchange has now started to allow users to withdraw […]
The Singapore-based cryptocurrency exchange Zipmex is the most recent in a line of crypto businesses to halt user withdrawals and transactions “until further notice.” Zipmex Halts Customer Withdrawals In light of the unstable market conditions, the cryptocurrency exchange Zipmex on Wednesday suspended users from withdrawing their cryptocurrencies. The exchange announced the decision on Twitter on […]
Cointelegraph spoke to the CEO of Zipmex following the failed Coinbase deal regarding rumors that crypto contagion has spread to Thailand. Thai cryptocurrency exchange Zipmex has paused withdrawals on its platform following a "combination of circumstances" beyond its control. Cointelegraph reports that Zipmex could be in trouble were dismissed moments prior as “rumors” just moments earlier by CEO and co-founder Marcus Lim following the failed acquisition of the Thai exchange by Coinbase. Due to a combination of circumstances beyond our control including volatile market conditions, and the....
The crypto exchange said it had $48 million in exposure with Babel Finance and $5 million with Celsius — both firms faced liquidity and insolvency issues, respectively. Cryptocurrency exchange Zipmex has resumed withdrawals from its trade wallet after two days, but said transfers, deposits and trade will continue to be disabled from its Z Wallet.In a Friday announcement, Zipmex said its Thailand-based users could make withdrawals from its trade wallet, with the function expected to be “re-enabled this evening” for clients in other countries. The crypto exchange has had withdrawals disabled....