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Tag Archives: zipmex

Zipmex Rescue Investor Reneges on 100% Creditor Payoff Commitment Now Offering 10 to 20 Cents on Dollar

The Zipmex rescue deal was threatened after the investor backtracked on its earlier promise to repay creditors fully.  Amid plans to rescue embattled crypto exchange Zipmex from insolvency, the investor has reportedly reneged on its promised 100% payment. According to reports, Zipmex’s rescue investor now seeks to pay only 10 to 20 cents on the dollar to the exchange’s creditors. This development proves shocking because the ‘unnamed’ investor initially pledged to repay Zipmex’s debts...

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Zipmex Acquisition Suffers as Buyer Defaults on Payment

The $100 million Zipmex acquisition hit a stumbling block yesterday after V Ventures missed a $1.25 million tranche payment. The impending acquisition of Thai crypto exchange Zipmex is in danger of falling through after the buyer missed a $1.25 million payment. According to a Bloomberg report, this payment was due yesterday and is necessary to fund working capital. In a letter, Zipmex revealed it would start liquidation proceedings for the technology unit Zipmex Technology Co. unless it...

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