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Zipmex Acquisition Stumbles as Buyer Misses Payment: Bloomberg

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.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.

 

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