Crypto exchange Zipmex will partially resume withdrawals in BTC and ETH

Earlier, the SEC of Thailand ordered the local branch of the platform to lift the ban on the withdrawal of certain cryptocurrencies

09.08.2022 - 13:10

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2 min

What’s new? Asian cryptocurrency exchange Zipmex will allow customers to partially withdraw BTC and ETH from their trading accounts, Bloomberg writes. The withdrawal will only be available to users of the exchange's own cryptocurrency wallet, Z Wallet. From August 11, customers will be able to withdraw ETH, and from August 16 — BTC, with the limitation on the number of coins. Earlier, the Securities and Exchange Commission (SEC) of Thailand ordered the local Zipmex unit to lift the ban on withdrawals of some cryptocurrencies. The platform has already facilitated full withdrawals in Solana (SOL), Ripple (XRP) and Cardano (ADA) since last week.

Bloomberg's material

The situation with Zipmex. On July 20, the exchange suspended withdrawals, citing unstable market conditions and financial difficulties of business partners. The next day the deposit and withdrawal functions were resumed, but trading on the platform is still unavailable.

On July 24, Zipmex received a business rescue offer from anonymous. The company did not specify whether it involved an investment in the platform or a buyout.

On July 22, the exchange applied to a court in Singapore requesting a moratorium on proceedings with creditors. The hearing is to be held on August 15. The lawyers intend to achieve a ban on the filing of claims by borrowers for up to six months, while the exchange is developing a restructuring plan.

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