Singapore-based crypto exchange Zipmex said on Sunday it is looking at possible offers from interested parties for possible restructuring and fundraising. In a Facebook post, it said it had a $48 million exposure to Babel Finance and $5 million to Celsius, Bloomberg reported.
Zipmex said it will write off its $5 million exposure to Celsius, but it is in talks with Babel Finance to resolve the issue without losing customers, Reuters reported.
“Our conversations with various interested parties have developed significantly. One of these parties has offered terms in an MOU that include confidentiality obligations in order to initiate Due Diligence. The company is investigating this,” Zipmex said in a Facebook post on Sunday.
Click here to know more about what happened to Zipmex last week.
In other news, the US Securities and Exchange Commission (SEC) told CNBC that it is working to get some crypto lending companies properly registered if they operate more like investment firms.
“We’ve focused on this area because many of these firms…may well be investment firms that take hundreds of thousands or millions of clients’ funds, pool them and re-lend them while offering fairly high returns. Sounds a bit like a investment firm or a bank, you might say,” SEC Chairman Gary Gensler said.
📢 Important announcement 📢
Our conversations with various stakeholders have developed significantly. One of these parties has offered terms in an MOU that include confidentiality obligations in order to initiate Due Diligence. #zipmex— ZIPMEX (@zipmex) 24 July 2022
Cryptocurrency prices
The global crypto market cap was down 2.66 percent to $1.01 trillion at 8:50 a.m. However, global crypto volume was up 6.2 percent to $63.77 billion, according to Coinmarketcap data.
Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $21,961.64, down 2.2 percent in the last 24 hours. Ethereum (ETH) fell 2.26 percent to $1,522.17.
Among other notable coins, Cardano (ADA) was down 3.88 percent to $0.4939, Algorand (ALGO) was trading with a loss of 3.73 percent to $0.3261, Solana (SOL) was trading with a loss of 3 .79 percent to $38.48, Polkadot (DOT) was down 5.02 percent to $7.07 and Binance Coin (BNB) was down 1.4 percent to $255.40.
The day’s biggest gainer was Bitcoin Cash (BCH), which was up 2.57 percent to $127.22. The top loser was Axie Infinity (AXS), which fell 8.19 percent to $16.40.
Meme coin and defi prizes
Dogecoin (DOGE) fell 4.99 percent to $0.0648. Its volume to market capitalization ratio is 0.04888. Rival Shiba Inu (SHIB) was down 4.08 percent to $0.00001119.
Dogelon Mars (ELON) lost 3.45 percent to trade at $0.0000003456, Floki Inu (FLOKI) lost 1.23 percent at $0.000009547, and Samoyed Coin (SAMO) shed 2.85 percent at $0.01048.
In the DeFi segment, YFI (yearn.finance) traded with a gain of 1.68 percent to $6,705.49, and Terra Classic (LUNC) traded with a loss of 2.68 percent to $0.00009748. Avalanche (AVAX) fell 6.42 percent to $22.16, Uniswap (UNI) traded with a loss of 0.04 percent to $6.96, and Aave (AAVE) fell 3.8 percent to 85, 82 dollars.
