To discuss, Zipmex wants talks with Thai officials and investors....

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Cryptocurrency exchange Zipmex has requested conferences with the Securities Exchange Commission (SEC) and different involved authorities in Thailand, Bloomberg reported. Potential investors are expected to attend these meetings because the exchange begins to execute a fund-raising plan.

Singapore, Thailand, Indonesia, and Australia are the four countries in which Zipmex conducts business. The troubled cryptocurrency exchange had filed for international moratorium applications in a very Singapore Court on twenty-eight July. the appliance was filed to hunt protection from creditors.

attractive investments to abate crisis

Zip me declared that it had been in a complicated stage of dialogue with 2 potential investors. This came once it signed 3 memorandums of understanding (MOUs) within the past month.

Furthermore, the future funding spherical is predicted to boost $40 million for Zipmex, at its current valuation of $400 million. {one of|one among|one in a veryll|one amongst|one in every of} the potential investors have been seeking Zipmex chief executive officer Marcum Lim to step down as per reports.

However, Lim in a recent interview with the monetary Review declared the opposite. He is aforesaid that he won't resign and can keep running the embattled crypto exchange whereas repaying the debt value of $50 million.

consistent with Crunchbase, Zipmex has raised funds value of $62.9 million over six rounds from totally different VC firms. These embody Krungsri Finovate, Mindwork Capitals, B Capital, and Jump Capital.

The Block according that Coinbase international created a strategic investment in Zipmex in early June 2022. However, Coinbase had been considering the feat the beleaguered enterprise however set against it.

international debt moratorium and a lot of

throughout the battle witnessed by the cryptocurrency market within the second quarter of this year, Zipmex was owed $53 million by Babel Finance and stargazer Network according to Fortune.

Zip me paused withdrawals on twenty July, citing volatile market conditions and monetary difficulties of its partners. However, it shortly re-enabled trade case withdrawals for its international and Singaporean users. solely recently, it re-enabled transfers from Z case to Trade Wallet.

Furthermore, as of twenty-eight July, the exchange filed for global debt moratorium applications in a very court in Singapore.

On fifteen August, Zipmex placed the update that its moratorium has been extended till two December 2022 for all of its 5 entities. Zip me has conjointly been asked to conduct a gathering with its creditors and client base at intervals a month, explaining its position on the matter.