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Cryptocurrency News

Breaking: Zipmex suspends withdrawals as CEO denies financial trouble rumors

07/20/2022

Less than a minute

2022.07.20 16:14

Breaking: Zipmex suspends withdrawals as CEO denies financial trouble rumors

Thai cryptocurrency exchange Zipmex has paused withdrawals on its platform following a “combination of circumstances” beyond its control. Cointelegraph reports that Zipmex could be in trouble were dismissed as “rumors” by CEO and co-founder Marcus Lim following the failed acquisition of the Thai exchange by Coinbase (NASDAQ:COIN).

Coinbase made an offer to acquire the Thai cryptocurrency exchange Zipmex early in quarter one 2022. On June 9, the acquisition fell through. Instead, Coinbase made a “strategic investment” into the company — the amount has not been disclosed.

Source: @Drumiskl Twitter (NYSE:TWTR)

07/20/2022

Less than a minute

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