{"id":69482,"date":"2022-11-02T17:38:29","date_gmt":"2022-11-02T15:38:29","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69482"},"modified":"2025-09-07T20:17:37","modified_gmt":"2025-09-07T17:17:37","slug":"zipmex-offered-100-million-for-a-rescue-of-the-business-in-exchange-for-90-of-its-shares","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/zipmex-offered-100-million-for-a-rescue-of-the-business-in-exchange-for-90-of-its-shares\/","title":{"rendered":"Zipmex offered $100 million for a ‘rescue’ of the business in exchange for 90% of its shares"},"content":{"rendered":"

Under strain, the Thai cryptocurrency exchange Zipmex is close to signing a $100 million ‘rescue’ deal with its current investor. The Block<\/a> reports.<\/p>\n

According to the report, venture firm V Ventures is prepared to put up the funds in exchange for 90% of the trading platform’s shares. The company, founded by the son of local billionaire \u041f\u0440\u0430\u044e\u0434\u0430 \u041c\u0430\u0445\u0430\u0433\u0438\u0446\u0438\u0440\u0438, is a current investor in Zipmex.<\/p>\n

V Ventures plans to close the deal on November 4, subject to final terms, The Block’s sources say.<\/p>\n

Among the conditions is the management’s agreement to three-year employment contracts with no departure from the company during that period. Also, co-founders Markus Lim, Akalarp Yimvilai, and chief marketing officer Praud Limpongpan must provide personal guarantees for any losses that V Ventures may incur.<\/p>\n

The parties declined to comment on the personal guarantees. Journalists say Limpongpan clearly made clear to V Ventures that she would not sign the guarantee.<\/p>\n

Zipmex suspended withdrawals<\/a>, citing an event beyond its control. A couple of days later the platform partially resumed operations<\/a>.<\/p>\n

Also, the company announced negotiations<\/a> with an unnamed ‘third party’ regarding the ‘rescue’ of the business. The liquidity shortfall at Zipmex was attributed to problems with partner firms \u2014 Babel Finance<\/a> and Celsius Network<\/a>. Their obligations amounted to $5 million and $48 million respectively.<\/p>\n

The exchange also filed in Singapore court for protection from creditors<\/a>. On August 15, the platform secured an extension of the moratorium to December 2<\/a>.<\/p>\n

The Thai Securities and Exchange Commission has turned to the police<\/a> with a complaint against Zipmex and \u0419\u0438\u043c\u0432\u0438\u043b\u0430\u0438.<\/p>\n

Follow ForkLog’s Bitcoin news on our Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

Facing financial difficulties, the Thai cryptocurrency exchange Zipmex is close to signing a $100 million ‘rescue’ deal with its current investor, The Block reports.<\/p>\n","protected":false},"author":1,"featured_media":69483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,1355],"class_list":["post-69482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-zipmex"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=69482"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69482\/revisions"}],"predecessor-version":[{"id":69484,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/69482\/revisions\/69484"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/69483"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=69482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=69482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=69482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}