Zipmex plans to issue an undetermined amount of Ethereum and Bitcoin on Aug. 11 and 16, respectively. The firm suspended withdrawals from its Z Wallet last month. Zipmex is planning to release a specific amount of ETH and BTC on 11 and 16 August respectively. We’re working hard to release the balance of Z Wallet holdings ASAP. Thank you for your ongoing patience and support. Zipmex Team #Zipmex pic.twitter.com/moywJffXau — ZIPMEX (@zipmex) August 8, 2022 Releasing of Remaining Wallet Balance The Singapore-based business announced Monday that it would release the remaining balance in its clients’ Z Wallets. Following a suspension of user withdrawals on July 20, the cryptocurrency platform reopened withdrawals of some altcoins, including Solana, Ripple, and Cardano, on August 2. According to the corporation, Bitcoin will be available on Thursday, August 16, and Ethereum. Last week, it permitted the withdrawal of the digital currency XRP, ADA, and SOL. Exposure To Celsius And Babel Finance Zipmex, which has exposure to Celsius and Babel Finance of $5 million and $48 million, respectively, has taken losses from Celsius and plans to recoup money from Babel. In July, the Singapore-based Zipmex, which also has operations in Thailand, Australia, and Indonesia, suspended withdrawals from Z Wallet because, according to Zipmex, Babel Finance and Celsius had access to $53 million worth of cryptocurrency there. Before filing for protection...
