Cryptocurrency exchange Zipmexto make a financing plan by decision of the City Court 3 monthsgave time.
Cryptocurrency exchange Zipmex filed for bankruptcy last July. Singapore’s Supreme Court has granted the cryptocurrency exchange more than three months of creditor protection so the company can devise a financing plan, Bloomberg News reported on Monday.
Zipmex Wants to Reverse the Situation
Zipmex, which has filed for bankruptcy and suspended withdrawals, will be protected from potential creditor lawsuits until December 2. On top of that, the company’s lawyer Morgan Lewis Stamfordhas applied for six-month protection for the exchange’s five entities, which include Singapore, Thailand, Indonesia and Australia.
Cryptocurrency exchange filing for bankruptcy Zipmex , said in a statement on August 2 that they are exploring multiple ways to secure financing. He added that due diligence was accelerated after signing a memorandum of understanding with the two investors.
Zipmex, Singapore-based hedge fund Three Arrows Capital collapsed, Celsius Networkand Voyager Digital It is one of the few crypto companies to succumb to market pressures in the past two months, filing for bankruptcy. zipex, Babel Finance$48 million to CelsiusHe loaned $5 million to .
