Breaking: Zipmex suspends withdrawals as CEO denies financial trouble rumors
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....
Related News
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....
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 […]
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 […]
Troubled crypto exchange Zipmex has time to come up with a restructuring plan by Dec. 2 after halting withdrawals in July. Cryptocurrency exchange Zipmex has gotten a chance to sort out liquidity issues as a court in Singapore has granted the firm with more than three months of creditor protection.Singapore’s High Court has ruled to give each of the five Zipmex entities a moratorium until Dec. 2, 2022 to come up with a restructuring plan, Bloomberg reported on Monday.The action aims to protect Zipmex from potential creditor lawsuits during the moratorium period after the exchange abruptly....
The investors affected by Zipmex's withdrawals' pause can submit information about their losses via an online forum on the Thai SEC’s official website. In the aftermath of the Thai cryptocurrency exchange Zipmex stopping withdrawals last week, local financial regulators are stepping in to look into potential losses by investors.Thailand’s Securities and Exchange Commission (SEC) is taking action to collect all necessary information from investors on how they have been affected by issues on Zipmex.The regulator officially announced on July 25 that Zipmex customers can submit information via....