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News

Zipmex Negotiates With V Venture About Selling Most Of The Company’s Shares

November 3, 2022 - Around 1 mins mins to read
According to Bloomberg, cryptocurrency exchange Zipmex is in early talks with venture capital fund V Ventures about selling controlling ownership in the company.
Zipmex Negotiates With V Venture About Selling Most Of The Company's Shares

Zipmex is on track to sign a majority buyout agreement this week, according to an e-mail sent to Bloomberg News on Wednesday, the name of the buyer was undisclosed.

According to the persons who wanted not to be identified because they were talking secret information, it is in negotiations with venture capital fund V Ventures, a subsidiary of Thoresen Thai Agencies.

The exchange, which provided crypto trading and investing services in Thailand, Indonesia, Singapore, and Australia, halted withdrawals when Babel Finance and Celsius Network failed to repay $53 million in loans during a crypto industry crisis.

After filing for bankruptcy protection in July, Zipmex hired a restructuring consultancy to help with a recovery plan in August.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

crypto

Thailand

V Venture

Zipmex

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Zipmex Negotiates With V Venture About Selling Most Of The Company’s Shares

According to Bloomberg, cryptocurrency exchange Zipmex is in early talks with venture capital fund V Ventures about selling controlling ownership in the company.
Zipmex Negotiates With V Venture About Selling Most Of The Company's Shares

Zipmex is on track to sign a majority buyout agreement this week, according to an e-mail sent to Bloomberg News on Wednesday, the name of the buyer was undisclosed.

According to the persons who wanted not to be identified because they were talking secret information, it is in negotiations with venture capital fund V Ventures, a subsidiary of Thoresen Thai Agencies.

The exchange, which provided crypto trading and investing services in Thailand, Indonesia, Singapore, and Australia, halted withdrawals when Babel Finance and Celsius Network failed to repay $53 million in loans during a crypto industry crisis.

After filing for bankruptcy protection in July, Zipmex hired a restructuring consultancy to help with a recovery plan in August.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News