Troubled exchange Zipmex might get a reprieve from its current financial difficulties. Thai investment group Country Group Holdings is in advanced talks with Zipmex. Chalermchai Mahagisiri, son of Thai billionaire Prayudh Mahagitsiri, is involved in the possible takeover. Not surprising since his (Mahagitsiri) company V Ventures Technologies participated in a Series B round for Zipmex in September 2022.
One of India’s largest cryptocurrency exchanges, CoinSwitch Kuber, is the latest exchange in that country hit by law enforcement. This raid is the second of a cryptocurrency exchange in India this month, the first being WazirX. The Enforcement Directorate alleges that CoinSwitch Kuber and WariX have violated parts of the Foreign Exchange Management Act (FEMA).
The Baking Bad (a play on Breaking Bad) took to Twitter and alleged that Binance ($BNB.X) froze its corporate account “… without any explanations.”
Our corporate @binance account is blocked since July 1 without any explanations. Today all our balances were set to zero (more than $1M). We have all the materials to begin the investigation and inform the community, but for now just stay away from Binance and @cz_binance #SAFU pic.twitter.com/PpZSBhYpZS
— Baking Bad (@TezosBakingBad) August 25, 2022
Binance responded, stating the closure is due to a law enforcement request:
As we mentioned, Binance is required to cooperate with such requests, the same as any other exchange.
There is a process to contest the seizure with the agency should you wish to pursue that path. But that is done through the agency, Binance has zero control over that process.
— Binance (@binance) August 25, 2022
We’ll update you as these stories develop. 📰