US$100 Million Zipmex Acquisition at Risk as Buyer Fails to Make Payment: Report
Zipmex cryptocurrency exchange is facing a potential setback in its US$100 million venture capital buyout. The buyer, V Ventures, reportedly missed a US$1.25 million payment that was due on March 23, according to a report from Bloomberg. The missed payment has put the acquisition in jeopardy, and Zipmex has been forced to take drastic measures in order to secure the necessary funds. In a letter seen by Bloomberg, the exchange revealed that it may have to liquidate its technology unit, Zipmex Technology, and suspend the division’s payroll unless it receives the funds. Zipmex has been working on a restructuring plan