Crypto Exchange Zipmex To Resume Withdrawals, Work On $53 Million Exposure
NDTV
Southeast Asia-focused cryptocurrency exchange Zipmex said it would resume withdrawals on Thursday after a suspension the day before.
Southeast Asia-focused cryptocurrency exchange Zipmex said it would resume withdrawals on Thursday after a suspension the day before, and was working to address its exposure of $53 million to crypto lenders Babel Finance and Celsius.
Zipmex said it was in talks with Babel Finance, which suspended withdrawals in June, to resolve its $48 million exposure to the crypto services firm, while a Babel Finance spokesperson said it was actively working with Zipmex to avoid customer losses.
Zipmex said it would write off its $5 million exposure to Celsius.
"Zipmex is exploring all available channels including fund raising, legal action and restructuring," the company said in a statement.
