Bitcoin exchange Zipmex spoke about the negotiations to "save" the business

The Thai cryptocurrency exchange Zipmex has received an offer for a deal in which an unnamed third party will help the company "save" the business.

"Our negotiations with various stakeholders have made significant progress. One of these parties proposed a number of conditions under the MOU, which also includes confidentiality obligations, in order to be able to start the Due Diligence procedure," the statement said.

Representatives of the platform did not specify whether it was an investment or a takeover of the company.

On July 20, Zipmex suspended the withdrawal of funds, citing "unstable market conditions and the resulting financial difficulties of key business partners."

In particular, the company owes the landing platform Celsius Network and the provider of crypto-financial services Babel Finance. Their liabilities amount to $5 million and $48 million, respectively. Both organizations are experiencing serious difficulties.

On June 17, Babel Finance announced the suspension of payments and withdrawals from its own products due to a lack of liquidity. Subsequently, information about the potential restructuring of his business appeared in the media.

On July 14, Celsius Network filed for bankruptcy and reported a $1.2 billion "hole" in the balance sheet.

At the end of the week, Zipmex partially resumed depositing and withdrawing funds.

Recall that Kaiko analysts allowed the bankruptcy of some cryptocurrency exchanges due to non-native market conditions, reduced customer activity and problems of a number of industry participants.