This Asian Crypto Exchange To Partially Resume Bitcoin, Ether Withdrawal: Report

This Asian Crypto Exchange To Partially Resume Bitcoin, Ether Withdrawal: Report
  • Asia crypto exchange Zipmex Pte will partially allow users to withdraw Bitcoin and Ether from their trading accounts starting August 16 and 11, respectively.
  • Around 60% of users will get some of their tokens back, Bloomberg reports.
  • Zipmex halted withdrawals in July due to a liquidity crunch after troubled Babel Finance suspended withdrawal of its exposure worth $48 million. The exchange is one of the several firms hit by the $2 trillion meltdown.
  • Zipmex recently started to unlock some altcoins. 
  • Zipmex eased the withdrawals of Solana’s SOL, Ripple’s XRP, and Cardano’s ADA. 
  • Recently Thailand’s Securities & Exchange Commission ordered Zipmex’s Thai unit to lift a freeze on some digital coins. 
  • Zipmex has filed for a moratorium in Singapore for protection from creditors against any lawsuits and to buy time for raising funds.
  • Bank of England Deputy Governor Jon Cunliffe sees a possibility for crypto meltdown survivors to become the future technology companies, rivaling Amazon.com Inc AMZN.

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