According to a new release on the website of the company, <a href="https://www.cryptoknowmics.com/news/thai-securities-and-exchange-commission-accuses-zipmex-and-its-ceo">Zipmex</a>, the South Asian cryptocurrency exchange that earlier this year had to freeze withdrawals due to a shortage of liquidity, has <a href="https://zipmex.com/announcements/moratorium-update-021222/" target="_blank" rel="nofollow noopener">received</a> creditor protection for all of its businesses until April of 2023.
<h2>Zipmex Secures Creditor Protection</h2>
The High Court of Singapore also issued a ruling stating that any acquisition agreement for Zipmex must be finalized by December 21 in addition to the prolongation. According to a person acquainted with the situation, Zipmex was still in advanced negotiations regarding a rescue agreement on November 18.

Zipmex is one of the numerous <a href="https://www.cryptoknowmics.com/news/tradfi-giant-tp-icap-acquires-a-uk-cryptocurrency-license">cryptocurrency</a> firms entangled in this year's market downturn after failing to repay a string of $53 million debts to Babel Finance and <a href="https://www.cryptoknowmics.com/news/celsius-files-motion-to-extend-submission-time-for-reorganization-plan">Celsius Network</a>. It stopped accepting withdrawals in July and hired a reorganization company to help with a rescue plan in August.
<h2>V Ventures to Acquire Zipmex</h2>
Bloomberg revealed last month that Thoresen Thai Agencies, one of the biggest and most reputable investment companies in Thailand, is the parent company of V Ventures, a venture capital group attempting to acquire Zipmex.

Zipmex Obtains Creditor Protection Term as Court Sets Deal Date

Zipmex had to freeze withdrawals due to a shortage of liquidity and has received creditor protection for all of its businesses until April of 2023.

Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

Zipmex Obtains Creditor Protection Term as Court Sets Deal Date

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