{"id":573657,"date":"2022-07-22T15:34:29","date_gmt":"2022-07-22T14:34:29","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=573657"},"modified":"2022-07-22T15:34:37","modified_gmt":"2022-07-22T14:34:37","slug":"crypto-exchange-zipmex-resumes","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/crypto-exchange-zipmex-resumes\/","title":{"rendered":"Crypto Exchange Zipmex Resumes Withdrawals On Trading Wallet, Full Operations Remain Halted"},"content":{"rendered":"\n<p>Summary:<\/p>\n\n\n\n<ul><li>Trading on Zipmex partially resumed today, per an update from the crypto exchange.<\/li><li>Maintenance on the platform&#8217;s &#8220;Trading wallet&#8221; concluded on Friday and users can now leverage the feature.<\/li><li>The wallets allow customers to deposit fiat currency and digital assets.<\/li><li>Zipmex&#8217;s Z wallet, a dedicated feature to incentivize deposits, remains suspended for traders.<\/li><li>It is unclear when or if full operations will resume shortly.<\/li><li>Zipmex previously disabled withdrawals earlier this week citing financial difficulties.<\/li><li>CEO Marcus Lim stressed that the crypto exchange was not insolvent despite swelling rumors.<\/li><li>Zipmex had exposure to troubled crypto lenders Babel Finance and Celsius, per reports.\u00a0<\/li><\/ul>\n\n\n\n<p>Southeast Asian-based crypto exchange Zipmex has resumed partial operations and given the green light for withdrawals on one of its wallets after the platform halted the feature earlier this week, citing volatile market conditions and financial difficulties.<\/p>\n\n\n\n<p>As <a href=\"https:\/\/en.ethereumworldnews.com\/crypto-exchange-zipmex-halts-withdrawals\/\" target=\"_blank\" rel=\"noreferrer noopener\">EthereumWorldNews<\/a> reported, the crypto exchange announced a freeze on user funds on July 20, 2022. Zipmex leverages a two-wallet system on its platform and the update affected both wallets. The wallets are known as the trading wallet and the Z wallet.<\/p>\n\n\n\n<p>The trading wallet supports deposits for fiat currencies and cryptocurrencies, while the Z wallet is designed to incentivize deposits by offering rewards and bonuses on such transactions.&nbsp;<\/p>\n\n\n\n<p>According to Friday\u2019s update, only operations on the trading wallet have been enabled. Z wallet functionality remains unavailable at press time.<\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\ud83d\udce3 Important Announcement\ud83d\udce3<br><br>Maintenance on the Trade Wallet has ended. Withdrawals for your Trade Wallet are now enabled as of 22 July 2022 at 18:00 (GMT+7).<br><br>Transfer from Z Wallet, deposit and trade will continue to be disabled until further notice. <a href=\"https:\/\/t.co\/voMInELlH5\" rel=\"nofollow\">pic.twitter.com\/voMInELlH5<\/a><\/p>&mdash; ZIPMEX (@zipmex) <a href=\"https:\/\/twitter.com\/zipmex\/status\/1550439202675863552?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">July 22, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2>Zipmex Crypto Exchange Exposed To Babel And Celsius&nbsp;<\/h2>\n\n\n\n<p>CEO of the crypto exchange Marcus Lim denied claims that Zipmex was battling insolvency. Lim revealed that the exchange received a strategic investment from Coinbase.&nbsp;<\/p>\n\n\n\n<p>However, the digital asset platform does have exposure to beleaguered crypto lenders as revealed by Bloomberg. The report disclosed that Zipmex has a $48 million exposure to Babel and a $5 million exposure to Celsius.&nbsp;<\/p>\n\n\n\n<p>Notably, trading on Celsius remains halted as the crypto lender is faced with liquidation.<\/p>\n\n\n\n<h2>Thai SEC Mulls Tighter Rules After Crypto Exchange Zipmex Freezes Funds<\/h2>\n\n\n\n<p>Following the Zipmex news, Thailand\u2019s Security and Exchange Commission (SEC) reportedly plans to install more rigid regulations around crypto. The agency\u2019s Secretary-General Ruenvadee Suwanmongkol <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-07-21\/crypto-asset-platforms-to-face-stricter-regulations-in-thailand#xj4y7vzkg\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">said<\/a> the main focus is to protect small investors amid extremely volatile digital asset prices.<\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Thailand-licensed exchange Zipmex halts withdrawals, revealed has $48 million of exposure to Babel and $5 million with Celsius, it said on its Facebook page on Thursday. Thailand plans to tighten supervision of digital-asset firms. <a href=\"https:\/\/t.co\/63gVFPOon8\" rel=\"nofollow\">https:\/\/t.co\/63gVFPOon8<\/a><\/p>&mdash; Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1550479212204924928?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">July 22, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Crypto exchange Zipmex resumes partial operations but has exposure to Babel and Celsius.<\/p>\n","protected":false},"author":55,"featured_media":573660,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,26],"tags":[2632],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/573657"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/55"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=573657"}],"version-history":[{"count":2,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/573657\/revisions"}],"predecessor-version":[{"id":573662,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/573657\/revisions\/573662"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/573660"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=573657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=573657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=573657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}