Zipmex Seeks $50 Million After Freezing Crypto Withdrawals

Zipmex, the Asia-focused crypto exchange that froze some withdrawals last week, said it’s seeking to raise at least $50 million to repair its balance sheet.

The company confirmed the targeted fundraising amount in an emailed response to questions from Bloomberg. Zipmex is in discussions to sell all or part of itself after lending money to troubled crypto firms Babel Finance and Celsius Network Ltd., a person with knowledge of the matter said, asking not to be named discussing private deliberations.