According to a spokesperson, Asia crypto exchange Zipmex will issue Ethereum and Bitcoin tokens starting this week, allowing 60% of its customers to retrieve their digital assets following the suspension of withdrawals from its Z Wallet product.
based in singapore zipmex Withdrawals were halted in July due to a liquidity crunch after the Babel Finance and Celsius collapse.
Ethereum will be released on Thursday and bitcoin on August 16, the firm said. Crypto exchanges operating in Thailand, Australia and Indonesia last week allowed the withdrawal of digital coins such as XRP, ADA and SOL.
on potential funding
Late last month Zipmex said it was in talks with investors for potential funding.
The Thai Securities Exchange Commission said on Saturday that it is collecting further information about affected clients and is working with client representatives on the issue.
Zipmex is one of several cryptocurrency firms hit by a $2 trillion market slump that has forced many players to halt withdrawals and some to file for bankruptcy.
The company has filed for adjournment in Singapore to buy time to raise funds and to protect against any litigation from creditors. A hearing is to be held on August 15 in the court for the adjournment in the city-state.
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