Zipmex exchange announced financial assistance from an anonymous source

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South Asian trading platform Zipmex, shortly after resuming the withdrawal of client capital, announced the conclusion of a contract that solves its economic problems.

Thai cryptocurrency exchange Zipmex,faced with economic difficulties, reported that a certain company offered conditions for financial assistance. At the same time, Zipmex does not name the company and does not specify whether the offer is an investment or an agreement to sell a share of the business.

"Our negotiations with interestedboth sides have made significant progress. One of these parties proposed terms in a memorandum of understanding that included confidentiality obligations,” the exchange explained.

On July 21, Zipmex suspended withdrawalsclients' assets on the platform, citing "financial difficulties of partners." The exchange, following other crypto companies, faced the consequences of the financial crisis in the crypto market.

The exchange invested $48 million in cryptocurrenciesBabel Finance and Celsius, which defaulted on loans after suffering severe losses. Zipmex later resumed the withdrawal of capital from the trading platform. However, customer assets held in the Zipmex wallet, which the exchange uses to pay out rewards, are still inaccessible.

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In April, Zipmex announced it was expanding its operations in Australia. To attract customers, the site has entered into agreements with the local football A-League and the National Rugby League.

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