The Securities and Exchange Commission (SEC) on Monday ordered cryptocurrency exchange Zipmex to clarify news that emerged on Friday regarding its Singapore parent not receiving the latest payment under its buyout agreement with venture capital firm V Ventures Technologies.
Zipmex said in a letter to V Ventures, a subsidiary of SET-listed shipping company Thoresen Thai Agencies, that without the cash infusion, it would have to begin liquidating its Zipmex Technology unit and suspend its payroll, according to a Bloomberg report.
The US$1.25 million payment was intended to provide working capital for the…
