Zipmex pauses withdrawals “until further notice”

Published by
Peter Kavinsky

Zipmex, a digital assets exchange with operations in Singapore, Australia, Indonesia and Thailand, said on Twitter that it “would be pausing withdrawals until further notice.”

The Singapore-headquartered company cited a “combination of circumstances beyond our control including volatile market conditions, and the resulting financial difficulties of our key business partners.”

https://twitter.com/zipmex/status/1549699440302166016?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener

Zipmex is not the only crypto exchange that has run into difficulties amid a global sell off in crypto markets. Crypto unicorn Babel suspended withdrawals in June, while Celsius, one of crypto’s biggest lenders, filed for bankruptcy a week ago.

Vauld, another Singapore-based crypto platform, suspended withdrawals, trading and deposits due to financial challenges earlier this month.

TechCrunch has reached out to Zipmex for comment and will update this story if we hear back from them. Reuters reports that in a livestream on Wednesday evening, Zipmex Thailand CEO Akalarp Yimwilai said its office’s difficulties were because of problems at Singapore-based Zipmex Global, whose partners Babel Finance and Celsius, were experiencing liquidity problems.

Source: TechCrunch

Peter Kavinsky

Peter Kavinsky is the Executive Editor at cablefreetv.org

Share
Published by
Peter Kavinsky

Recent Posts

  • News

A wounded soldier sings a hymn during the evacuation – in our Telegram channel

Subscribe to Ukrinform's Official Telegram Channel!

10 seconds ago
  • News

Revealed New Details of the Scandalous Acting Family Trial of the Batalovs

Maria Batalova has filed a civil lawsuit for the amount of 1.5 million rublesA picture:…

6 mins ago
  • News

Ancient Inca technology being used to collect water to fight Peru’s crisis

Techniques used by serfs of the Inca Empire to build canals 500 years ago are…

7 mins ago
  • News

Doñana celebrates 53 years of drought as major threat | Society

Doñana reaches 53 years of age at a delicate moment marked by a major threat,…

7 mins ago
  • News

TRANSFER NEWS: Mountassir Lahtimi is in Trabzonspor!

Trabzonspor, Morocco team FUS RabatHe agreed with the club and himself for the transfer of…

9 mins ago
  • News

What are the discounted products in the Agricultural Credit Cooperative Markets? When will the 2022 Agriculture Credit Market discount start, which products are on sale?

www.haberturk.com All rights of the articles, news, videos and photographs published on the website belong…

10 mins ago