Cryptocurrency exchange “Zipmex” suspends withdrawals…Details here
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer Cryptocurrency exchange “Zipmex” suspends withdrawals…Details here
Singapore-based Zimpex suspended withdrawals from its platform on Wednesday, citing a combination of circumstances that were beyond its control.
in Tweet From a cryptocurrency trading company, the company highlighted the volatile market conditions and financial difficulties generated by major trading partners that prompted it to take such drastic action.
Although the company did not provide further details about the move, it did not specify how long the withdrawal process will be pending.
Read:Bitcoin regains $20 thousand level, digital currency APE rises more than 15%
Quoted from the company’s tweet in this regard:
Due to a range of circumstances beyond our control including volatile market conditions, and financial difficulties arising from our major trading partners, to maintain the integrity of our platform, we will be temporarily suspending withdrawals until further notice.
Crypto winter is hard on crypto companies:
Cryptocurrency exchange “Zipmex” operates in several countries in the Asia Pacific region.
Although it is spread in several regions (Singapore, Australia and Indonesia), it is more popular in Thailand.
Earlier, Zimpex attracted the interest of Coinbase, which was aiming to acquire it in the first quarter of this year.
But later the deal failed, and the US company ended up making an undisclosed strategic investment in its Asian counterpart.
The investment came as part of a Series B+ funding round for the $400 million cryptocurrency exchange.
The company previously raised $52 million from backers such as B Capital, Ventures, MindWorks Capital and Master Ad.
After the acquisition collapsed, Marcus Lim, co-founder and CEO of Zimpex, blamed market conditions and highlighted that Coinbase had followed the same strategy in many other markets as well.
Read:South Korea cracks down on offshore crypto trading platforms that operate without a license
Read also:
CryptoCom Receives Regulatory Approval to Provide Crypto Services in Italy
Bitcoin touches the level of 24 thousand dollars, and Ethereum maintains the level of 1500 dollars
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time