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

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.

Recent Posts

Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…

4 minutes ago

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

24 minutes ago

Inflation Warning By Vanguard Amid Tariffs And Labor Issues

Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…

40 minutes ago

Clanker Token Trading Volume Hits $59.8 Million High On November 21

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

1 hour ago

Bitcoin Spot ETF Inflows Hit $1 Billion Led By BlackRock

Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…

2 hours ago

New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot

Discover the success story of a New York tech entrepreneur who made $72M from a…

2 hours ago

This website uses cookies.