The exchange of digital assets has operations in Singapore, Australia, Indonesia and Thailand.In a tweet on Wednesday night, Zipmex said that because of the combination of the situation “outside our control, including volatile market conditions, and financial difficulties produced from our main business partners, to maintain the integrity of our platform, we will stop withdrawing until the next notification

The goal of Zipmex last year was to be the largest digital exchange in the Asia Pacific region.In the last picture reported, Zipmex has transacted more than $ 600 million in the gross transaction volume since it was launched at the end of 2019.

Crypto Unicorn Babel suspected the withdrawal in June, while one of the largest Crypto lenders Celsius filed bankruptcy this month.

Vauld, another Crypto platform based in Singapore, has also suspended withdrawals, trade and deposits.

Some Crypto platforms and exchanges have dismissed employees because the Global Crypto Market has experienced destruction.

Last week, Non-Funble Token (NFT) Marketplace OpenSea’s Co-Founder and CEO Devin Finzer announced that the platform dismissed about 20 percent of its total employees.

3AC based in Singapore proposed bankruptcy in the US earlier this month to protect his assets from creditors. 3AC Default with a loan of more than $ 650 million provided by Crypto Broker Voyager Digital, which has also submitted bankruptcy.

Cryptocurrency Exchange based in Singapore Bybit has dismissed 2,000 employees while Crypto Global exchanges and companies including Coinbase, Gemini, Crypto.com and others announced to save their workforce.

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Elara Gill

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