Asia crypto exchange Zipmex Pte plans to allow its users to withdraw certain tokens from their trading accounts. The exchange has set a timeline for the withdrawal of cryptocurrencies, including Solana’s SOL, Ripple’s XRP and Cardano’s ADA, from Zipmex’s Z wallet.
The SOL tokens will be issued on August 2, which the company later updated on Tuesday. solana The trade has been credited to the wallet. Meanwhile, the crypto exchange said that XRP will be released on August 4 and ADA on August 9. However, withdrawals from Zipmex’s yield-based program Zipup+ are suspended. In addition, top cryptos including bitcoin and ether remain closed, the company said in a statement.
zipmex, which operates in Thailand, Singapore, Indonesia and Australia, filed for bankruptcy last week after it halted withdrawals in July, citing volatile market conditions and the financial difficulties of its major trading partners. Happened. Last week, Thailand’s Securities and Exchange Commission ordered the Thai unit of Zipmex to lift a moratorium on certain digital coins.
Zipmex, which operates in Singapore, Thailand, Indonesia and Australia according to its website, is the latest in a string of crypto players globally who are facing difficulties following a sharp sell-off in markets that began in May with the collapse of the two paired tokens. running in. Luna and TeraUSD.
Zipmex is the latest in a series of cryptocurrency players globally that are facing difficulties following a sharp selloff in the cryptocurrency markets, which began with the collapse of two pairing tokens, Luna and TeraUSD, in May. Zipmex joins crypto firms from Celsius Network Ltd to Wold to suspend withdrawals, leaving depositors in the lurch and underscoring the dangers of leveraged bets entering the industry.
The crypto exchange was launched in September 2019 and according to its website is based in Singapore and Thailand. Many crypto companies have filed for bankruptcy or have been forced to seek emergency capital investments.
cryptocurrency The market failed to recover from the collapse of Terra in May as major crypto lending companies were under threat of bankruptcy, sparking fear among market participants. The price of cryptocurrencies like bitcoin rose in 2020 and 2021, but has declined sharply this year.
(with inputs from agencies)
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