Zipmex Acquisition Suffers as Buyer Defaults on Payment
Tecnología Zipmex Acquisition Suffers as Buyer Defaults on Payment Hace 4 minutos Noticias de Bitcoin Ethereum The $100 million Zipmex acquisition hit a stumbling block yesterday after V Ventures missed a $1.25 million tranche payment. The impending acquisition of Thai crypto exchange Zipmex is in danger of falling through after the buyer missed a $1.25 million payment. According to a Bloomberg report, this payment was due yesterday and is necessary to fund working capital. In a letter, Zipmex revealed it would start liquidation proceedings for the technology unit Zipmex Technology Co. unless it receives the required payment. The embattled crypto exchange also plans to suspend that divisions payroll. Zipmex Acquisition Payment Meant to Inject Liquidity into Company The March 23rd payment was supposed to be the most recent remittance under a $100 million venture capital buyout. Zipmex had agreed to the buyout by Thoresen Thai Agencies Pcl subsidiary, V Ventures, late last year. At the time, the Asian exchange was weathering a liquidity crisis after suffering through the 2022 crypto bear market. Before the payment default on the Zipmex acquisition, the exchange had received three tranches of funding. Nonetheless, Zipmex does not consider the payment problem an immediate hindrance. According to the troubled company, it still has the