Zipmex's investor is proposing a new deal that would see them pay the crypto exchange's creditors far less.
Zipmex’s investor is proposing a new deal that would see them pay the crypto exchange’s creditors far less.
Zipmex’s rescue plan could face some challenges as the crypto exchange’s investor is now asking to pay a fraction of its debt, as against the pledge to make a 100% payment. The distressed company is, meanwhile, planning to further extend its creditor protection to seek out new investors.Zipmex’s investor is proposing to pay the Thai crypto exchange’s creditors about 10 to 20 percent of the amount owed to them, as stated in a letter the firm wrote to the court in charge of its restructuring. The investor’s new proposal is significantly different from the original buyout proposal, which promised to make a full payment to creditors.
In July 2022, Zipmex, which has branches in Thailand, Singapore, Indonesia, and Australia, halted withdrawals on its platform following its
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