News Formal

Zipmex Acquisition Stumbles as Buyer Misses Payment: Bloomberg

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

.zipmex's $100 million venture capital buyout could be in jeopardy after the investor missed a $1.25 million payment, according to a Bloomberg report. By JamieCrawleyCD.

Zipmex advised that it would have to liquidate its technology unit unless it receives said payment.

The exchange was one of many to experience a liquidity crisis last summer following the collapse of Terra and its algorithmic stablecoin UST. Zipmex had issuedIt agreed a $100 million rescue package with V Ventures, a Thailand-based venture capital firm, at the end of last year, from which it has been receiving three tranches of funding, according to the letter.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Zipmex's rescue investor misses payment, company warns employees of liquidationTroubled Asian crypto exchange Zipmex is under increasing pressure after its rescue investor V Ventures missed a fourth tranche payment, leaving the company unable to pay certain staff and at risk of liquidation. Yogita_Khatri5 👀 Yogita_Khatri5 ParrotCapital
Source: TheBlock__ - 🏆 464. / 53 Read more »

Trump-linked Digital World Acquisition Corp fires CEO Patrick OrlandoDWAC, which planned to take Trump's media company public, is being probed by federal authorities. Everything in his ambit is corrupt.
Source: CNBC - 🏆 12. / 72 Read more »