Embattled crypto change platform Zipmex is reportedly on the verge of being bought by a enterprise capitalist agency.
In response to a brand new report by Bloomberg, the Singapore-based digital property change is at the moment in talks with V Ventures, an funding agency that focuses on know-how.
Sources aware of the state of affairs inform Bloomberg that Zipmex is on the cusp of agreeing to a majority buyout, although the client has not been formally named. Nevertheless, in addition they famous that the corporate is in shut talks with V Ventures.
The sources go on to say that whereas the negotiations are nonetheless ongoing, they aren’t assured to develop right into a deal.
In July, Zipmex introduced that it will be pausing buyer withdrawals after the crypto trade entered right into a bear market months earlier that noticed it shed over $1 trillion in market cap.
As stated by Zipmex on the time,
“Resulting from a mix of circumstances past our management together with risky market situations, and the ensuing monetary difficulties of our key enterprise companions, to take care of the integrity of our platform, we might be pausing withdrawals till additional discover.”
In response to Bloomberg, Zipmex is at the moment within the midst of a restructuring course of after a court docket in Singapore granted it safety from collectors in August.
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