TechFlow News — Cryptocurrency exchange Zipmex is seeking to raise at least $50 million to repair its balance sheet, according to sources. The company is also discussing the potential sale of all or part of its assets. The fundraising target roughly represents Zipmex's total exposure to Babel and Celsius, amounting to $48 million and $5 million respectively.
Earlier reports indicated that Singapore-based crypto exchange Zipmex had lent funds to cryptocurrency lending firms Babel Finance and Celsius. Currently, Zipmex has a $48 million exposure to Babel, and a $5 million exposure to Celsius, which filed for bankruptcy last week.
Add to Favorites
Share to Social Media
