Bloomberg reports that V Ventures, a subsidiary of Thoresen Thai Agencies Pcl, is offering $30 million in cash and the remainder in crypto tokens to acquire the embattled Asian cryptocurrency exchange Zipmex Asia Pte.
The total acquisition funds of $100 million are expected to acquire around 90% of Zipmex, declining to be identified due to the privacy of the buyer. According to the court hearing, withdrawals were halted following a crypto rout and would be gradually resumed by early April using the cryptocurrency obtained from the sale.
Given the “current sensitivities,” Zipmex spokesperson declined to comment while an email asking for feedback received no response from V Ventures. When contacted by phone to inquire about if the company has signed an agreement to acquire Zipmex, Chalermchai Mahagitsiri, a general partner at V Ventures, denied commenting.
Zipmex is an Asia-leading digital assets exchange platform operating in Singapore, Thailand, Indonesia, and Australia. In July, the firm filed for bankruptcy protection, citing liquidity issues. After being granted protection from creditors in Singapore in August, it had been undergoing restructuring.
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
Thana
Coincu News
Author
News
V Ventures Seeks To Acquire 90% Of Zipmex
Bloomberg reports that V Ventures, a subsidiary of Thoresen Thai Agencies Pcl, is offering $30 million in cash and the remainder in crypto tokens to acquire the embattled Asian cryptocurrency exchange Zipmex Asia Pte.
The total acquisition funds of $100 million are expected to acquire around 90% of Zipmex, declining to be identified due to the privacy of the buyer. According to the court hearing, withdrawals were halted following a crypto rout and would be gradually resumed by early April using the cryptocurrency obtained from the sale.
Given the “current sensitivities,” Zipmex spokesperson declined to comment while an email asking for feedback received no response from V Ventures. When contacted by phone to inquire about if the company has signed an agreement to acquire Zipmex, Chalermchai Mahagitsiri, a general partner at V Ventures, denied commenting.
Zipmex is an Asia-leading digital assets exchange platform operating in Singapore, Thailand, Indonesia, and Australia. In July, the firm filed for bankruptcy protection, citing liquidity issues. After being granted protection from creditors in Singapore in August, it had been undergoing restructuring.
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
Thana
Coincu News
Other Posts
Related Posts
Latest
BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability
Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction
Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ
Press Release
BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability
Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction
