Cryptocurrency exchange Zipmex has requested a meeting with the Thai Securities Exchange Commission (SEC) and other regulators to discuss the company’s restructuring plan.
In a statement on August 25, the exchange said it sent a letter requesting a meeting with Zipmex. With the participation of potential investors of the company to present the Thai Tutoring plan. Restructuring plan after falling into financial trouble due to the liquidity crisis that has been going on for the last two months.
“We have requested to meet with the Thai Securities Exchange Commission and regulators in the country where we operate to introduce our investors to regulators and present our bailout plan to government agencies.”
The requested talks with the SEC came a month after the regulator issued an ultimatum to Zipmex because the exchange was involved in a settlement. He loaned $53 million to Babel Finance and Celsius and imposed a withdrawal ban on customers.
After facing the numerous difficulties just mentioned, Zipmex was offered bailout from an unnamed party and also received an amnesty from Zipmex for an additional three months of debt repayment obligation. Singapore High Court .
However, given the SEC’s interest in Zipmex, upcoming discussions will provide important insights into how the company can move forward with future refunds. In addition, Zipmex announced that they will make further statements on the subject soon. mid-September 2022 .
While the company has not disclosed the identity of the investors, “advanced stages” signed three memorandums of understanding (MOU) of negotiations with the two investors in the previous month.
The initial mention of the investment round in June hinted that the possible capital injection had nothing to do with the company’s recent financial woes.
Additionally, the wallet transfer for Zipmex’s native token, Z-Wallet and Commerce Wallets between ZMT has been reset this week and has made further progress as the company has worked hard to get it back on its feet and fully back to work. However, the functionality is currently only available on the website and not through the Zipmex app.
Zipmex co-founder, Dr. Akalarp Yimwilai said:
“By maintaining the Z Wallet service and doing everything possible to resolve the issues mentioned above. I can confirm that we will continue to move forward to maintain our services to serve our customers effectively and fairly.”