{"id":1578644,"date":"2022-07-29T12:10:09","date_gmt":"2022-07-29T16:10:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1578644"},"modified":"2022-07-29T12:10:19","modified_gmt":"2022-07-29T16:10:19","slug":"crypto-platform-zipmex-files-for-bankruptcy-protection-in-singapore","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/crypto-platform-zipmex-files-for-bankruptcy-protection-in-singapore\/","title":{"rendered":"Crypto platform Zipmex files for bankruptcy protection in Singapore"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcrypto-platform-zipmex-files-for-bankruptcy-protection-in-singapore%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1578644&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>(Reuters) \u2013     Southeast Asia-focused cryptocurrency exchange Zipmex said it had filed for bankruptcy protection in Singapore, becoming the latest victim of the global downturn in digital currencies.<\/p>\n<p>Singapore-based Zipmex resumed withdrawals last week, a day after suspending them on July 20, and said it was working to address its exposure of $53 million to crypto lenders Babel Finance and Celsius.<\/p>\n<p>Zipmex\u2019s solicitors submitted five applications on July 22 seeking moratoriums to prohibit legal proceedings against Zipmex for up to six months, the cryptocurrency exchange said https:\/\/bit.ly\/3zEMmKD on Wednesday.<\/p>\n<p>Under Singapore law, such a filing grants companies an automatic moratorium for 30 days, or until a Singapore Court makes a decision on the application, whichever is earlier.<\/p>\n<p>Zipmex, which operates in Singapore, Thailand, Indonesia and Australia according to its website, is the latest in a string of crypto players globally to run into difficulties following a sharp sell off in markets that started in May with the collapse of two paired tokens, Luna and TerraUSD.<\/p>\n<p>Thailand\u2019s Securities and Exchange Commission said on Monday https:\/\/reut.rs\/3zF84yc it was working with law enforcement to look into potential losses among the public after Zipmex temporarily suspended withdrawals.<\/p>\n<p>Singapore\u2019s ambitious cryptocurrency sector, by some measures Asia-Pacific\u2019s largest, has also been shaken by the recent collapse of crypto fund Three Arrows Capital.<\/p>\n<p> (Reporting by Hazra Nivedita and Akriti Sharma in Bengaluru; Editing by Shounak Dasgupta)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2731996\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6S03P-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI6S03P-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) \u2013 Southeast Asia-focused cryptocurrency exchange Zipmex said it had filed for bankruptcy protection in Singapore, becoming the latest victim of the global downturn in digital currencies. Singapore-based Zipmex resumed<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1578644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1578644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1578644"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1578644\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1578644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1578644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1578644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}