Zipmex

The troubled Singapore-based cryptocurrency company had filed the applications in order to safeguard the proposed sales of its Thailand and Indonesia businesses, even though progress had stalled on these deals.

Court dismisses Zipmex’s applications to extend debt moratoria; says liquidation ‘imminent’

THE Singapore High Court has dismissed applications filed by Zipmex Group seeking a short extension of the moratoria that expired on Thursday (Jan 11).

Zipmex sank into distress last year after a US$53 million exposure to failed crypto lenders Babel Finance and Celsius.

Startups

Zipmex sues investor, proposes new scheme after US$100 million deal fails

SINGAPORE-BASED crypto company Zipmex has taken legal action against its Thai investor, V Ventures, for allegedly backing out of a US$100 million rescue deal.

Zipmex is struggling to pay employees after its investor withheld an injection of cash.

Startups

Crypto firm Zipmex’s investor pulls plug on US$100 million bailout

SINGAPORE-BASED crypto exchange Zipmex has sunk into deeper trouble after its Thai buyout investor scrapped a US$100 million deal to rescue the company and restore customer funds.

Zipmex, which fell victim to last year’s bear market in virtual coins, plans to ask the court to extend its creditor protection period in Singapore to give it time to seek alternative investors.

Startups & Tech

Crypto firm Zipmex’s buyout hits snag as investor seeks haircut

THE Thai fund buying struggling crypto exchange Zipmex is seeking to impose a steep haircut on its creditors under a revised buyout proposal.

While the question of recognising crypto as money remains unanswered for now, cases revolving around this issue will be something to watch.

Startups & Tech

Crypto hearings in Singapore throw up quirks, legal novelties

More sticking points around this novel technology are expected to surface

In a lawyer's letter, V Ventures has pointed to unresolved matters over Zipmex’s proposed scheme of arrangement.

Startups

White knight behind crypto exchange Zipmex says ‘not obligated’ to make payment, amid concerns of pullout

V VENTURES, the investor behind Asian crypto exchange Zipmex’s US$100 million bailout, has accused Zipmex of not fulfilling certain conditions required for the latest tranche of investment from the fi...

Zipmex could have been operating as a “digital-asset fund manager without permission,” Thailand's SEC said

Startups & Tech

Thailand probes embattled crypto exchange Zipmex on rule breach

THAILAND’S securities regulator is probing whether embattled crypto exchange Zipmex, which is in the midst of being taken over, breached local rules in its offer of certain digital-asset products.

Zipmex has about US$700,000 in cash in its bank balance. Without the financing, the company will survive only till January, says its lawyer.

Startups

Court grants Zipmex’s rescue financing super-priority status

SINGAPORE’S High Court on Friday (Dec 23) granted Zipmex’s white knight super-priority claims on assets over existing creditors, for a US$5.85 million lifeline to keep the crypto exchange going as it...

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