Zipmex Has $48M Exposure to Babel Finance, to Resume Withdrawals from Trade Wallet

Southeast Asia-based crypto exchange released a statement, saying that it has a $48 million exposure to Babel Finance and $5 million to Celsius. The exchange is in talks with Babel to resolve the situation. In addition, Zipmex said that it is exploring all available channels including fundraising, legal action, and restructuring. Zipmex Thailand has re-enabled deposits and withdrawals on its trade wallet, and will resume trades soon, while exchanges in other regions will only resume withdrawals.