Zipmex Files for Bankruptcy

Another one bites the dust, or at least for the time being. Namely, the Thailand-based crypto exchange, Zipmex, is now among the crypto companies that have filed for bankruptcy due to the ongoing bearish market conditions.

After initially halting all withdrawals earlier in July, the exchange has since made its trade wallet and NFT-trading platform operational. However, withdrawals from Zipmex’s Z wallets remain unfunctional.

The company has stated that filing for bankruptcy will allow it to restructure, while trying to find a solution to its financial trouble. The crypto exchange is already in talks with a potential buyer.

Zipmex has now joined the likes of Celsius, Voyager, and Three Arrows Capital, who have all filed for bankruptcy during the ongoing crypto winter.