Cryptocurrency exchange Zipmex suspends withdrawals – Bits Media

The CEO of a large Thai crypto exchange Zipmex said, what, despite the suspension of withdrawals, the company has no financial problems.

Zipmex explains the suspension of withdrawals due to circumstances beyond its control. Coinbase made an offer to buy Thai cryptocurrency exchange Zipmex at the beginning of the first quarter 2022 of the year. but 9 June the deal fell through. Instead of outright purchasing the asset, Coinbase made a "strategic investment" in the company, investment amount is not disclosed.

According to the company's CEO and co-founder Marcus Lim (Marcus Lim), although the company is interested in close cooperation with Coinbase, she is better suited as an investor, weeks as a new owner. At the same time, Lim tried to refute the rumors, according to which the company is experiencing financial problems.

“The acquisition fell through due to market conditions. They refused to participate in many countries around the world, such as Türkiye and Latin America. Coinbase is an excellent strategic partner for businesses", – Lim stated.

Zipmex is currently working on a promotion to Series B+, which may cost 400 million dollars. Reported, that the exchange operates in Thailand, Indonesia, Singapore and Australia. In August 2021 year Zipmex user base reached 200 000 Human, and from the moment of launch at the end 2019 year, the total volume of transactions exceeded 1 billion dollars.

Earlier, the cryptocurrency derivatives exchange CoinFLEX reported, что ей нужно больше времени для возобновления вывода средств пользователей, поскольку площадка все еще ищет того, кто выкупит ее долг в $47 mln.