Crypto asset trading platform Zipmex will restart clients’ withdrawals after signing an acquisition agreement with a venture capital firm.
The South East Asian stock market, which found itself in a credit crunch last year, is restarting customers’ withdrawals after a deal with a venture capital firm last month. According to the announcement, the company’s program manager, which aims to complete all eligible creditors’ withdrawals by March 21, explained that users must fill out a form with the investment firm KordaMentha with the amount owed by February 21.
Zipmex Was Also Affected by Terra Collapse
Zipmex was one of several companies affected by Terra’s collapse last summer. Zipmex made two loans worth $53 million to Babel Finance and Celsius Network, none of which were recovered.
Bloomberg reported last month that Zipmex is facing an investigation from Thailand’s securities regulator over whether it was operating without permission.
According to the report, the Thailand Securities and Exchange Commission (SEC) wrote a letter to Chief Executive Officer Akalarp Yimwilai on December 28, 2022, about the company’s possible violation of local business rules for crypto service providers, and Zipmex is working as an unauthorized crypto fund manager. pointed out that it might.
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