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Cryptocurrency exchange Zipmex, crippled by its exposure to crypto companies Babel Finance and Celsius Network, has been given a three-month extension of its Zipmex applied for up to 6 months extension, however, the court only granted an extension valid until December 2. In July, crypto exchange Zipmex suspended A Singapore court has provided crypto exchange Zipmex with creditor protection for the next three months, which will allow the company to formulate an efficient Embattled Asia-Pacific crypto exchange Zipmex has been granted protection from its creditors until December 2, with the Singapore High Court allowing it three months to come up with a Asia cryptocurrency exchange Zipmex Pte was granted more than three months of protection from creditors by Singapore’s High Court, giving the troubled firm SINGAPOREThe High Court on Monday (Aug 15) granted cryptocurrency exchange platform Zipmex bankruptcy protection from creditors for a period of Zipmex has become the latest digital asset firm to file for and attain creditor protection following its collapse. The exchange was granted over three months of protection by The period of protection from creditors for crypto companies is only three months, and the Judge gave Vauld an identical arrangement earlier this month. Here’s what’s

Will Bitcoin Survive Zipmex's 3-Month Creditor Protection?

The cryptocurrency world watches with bated breath as Asia-Pacific crypto exchange Zipmex navigates its three-month creditor protection period. The core question on everyone's mind: will users' Bitcoin survive through this turmoil? Zipmex, crippled by its exposure to crypto companies Babel Finance and Celsius Network, has been granted protection from its creditors until December 2nd. This extension, shorter than the up to 6 months Zipmex applied for, only grants them until December 2nd, as the Singapore High Court allowed it three months to come up with a restructuring plan. This follows July's events where crypto exchange Zipmex suspended trading. A Singapore court has provided crypto exchange Zipmex with creditor protection, giving the troubled firm time to formulate an efficient strategy for the future. Asia cryptocurrency exchange Zipmex Pte was granted this extension, offering some breathing room. Zipmex has become the latest digital asset firm to file for and attain creditor protection following its collapse. SINGAPOREThe High Court on Monday (Aug 15) granted cryptocurrency exchange platform Zipmex bankruptcy protection from creditors for a period of three months. Here’s what's important for Bitcoin holders: while the 3-month creditor protection offers Zipmex a shield from immediate legal action, it doesn't guarantee the complete recovery of users' funds. The period of protection from creditors for crypto companies is only three months, and the Judge gave Vauld an identical arrangement earlier this month. It remains crucial to understand the risks associated with exchanges and the potential for loss, even with creditor protection in place. The fate of users' Bitcoin hinges on Zipmex's ability to restructure and fulfill its obligations during this critical period.

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