Zipmex Pte, the embattled Asian cryptocurrency exchange, is in advanced talks to receive a financial lifeline from one of its investors, people with knowledge of the matter said.
Zipmex is “on track to sign a majority buyout” agreement this week, the company said in an email to Bloomberg News on Wednesday, without naming the buyer. It is in talks with venture capital fund V Ventures, a subsidiary of Thoresen Thai Agencies Plc, according to the people, who asked not to be identified discussing confidential information.
V Ventures didn’t immediately respond to an email seeking comment. Negotiations are ongoing and it isn’t certain they’ll lead to a deal, the people said.
Bangkok-based Zipmex has been restructuring after being granted protection from creditors in Singapore in August. It was derailed by a wave of defaults that ripped through the crypto industry in June and July, claiming high-profile casualties including lender Celsius Network and hedge fund Three Arrows Capital.