Embattled crypto alternate platform Zipmex is reportedly on the verge of being bought by a enterprise capitalist agency.
In keeping with a brand new report by Bloomberg, the Singapore-based digital belongings alternate is at present in talks with V Ventures, an funding agency that focuses on know-how.
Sources conversant in the scenario inform Bloomberg that Zipmex is on the cusp of agreeing to a majority buyout, although the client has not been formally named. Nonetheless, additionally they famous that the corporate is in shut talks with V Ventures.
The sources go on to say that whereas the negotiations are nonetheless ongoing, they aren’t assured to develop right into a deal.
In July, Zipmex introduced that it might be pausing buyer withdrawals after the crypto trade entered right into a bear market months earlier that noticed it shed over $1 trillion in market cap.
As stated by Zipmex on the time,
“Because of a mixture of circumstances past our management together with unstable market situations, and the ensuing monetary difficulties of our key enterprise companions, to take care of the integrity of our platform, we might be pausing withdrawals till additional discover.”
In keeping with Bloomberg, Zipmex is at present within the midst of a restructuring course of after a courtroom in Singapore granted it safety from collectors in August.
Do not Miss a Beat – Subscribe to get crypto e-mail alerts delivered on to your inbox
Test Value Motion
Observe us on Twitter, Facebook and Telegram
Surf The Every day Hodl Combine
 
Disclaimer: Opinions expressed at The Every day Hodl aren’t funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any loses you could incur are your accountability. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please word that The Every day Hodl participates in internet online affiliate marketing.
Featured Picture: Shutterstock/sutdiostoks