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Crypto platform Zipmex files for bankruptcy protection in Singapore

13 Sept 08:18 Key points summarised by AI

Southeast Asia-focused cryptocurrency exchange Zipmex filed for bankruptcy protection in Singapore, becoming the latest victim of the global digital currency downturn.
The platform sought moratoriums on July 22 to prohibit legal proceedings against it for up to six months, following a temporary suspension of withdrawals on July 20.
Zipmex faces a $53 million exposure to troubled crypto lenders Babel Finance and Celsius, contributing to its financial distress.
This filing marks Zipmex as another crypto player struggling amid a widespread market sell-off that began in May, impacting firms globally.

Today 12:56 Key points summarised by AI

President Macron condemned widespread rioting and looting during nationwide protests, blaming far-left activists and criminals for the "unrestrained violence" and vowing accountability for those who "sought to bring down the Republic."
Over 2,400 arrests were made as protests against rising living costs and poor school conditions escalated, causing extensive damage to public buildings and businesses in cities like Paris, Limoges (where City Hall burned), Marseille, and Lyon.
The unrest, which organizers hoped would revive the "yellow vest" movement, saw political leaders trade blame, with Macron instructing prefects to protect public buildings and potentially ban future protests to prevent further disorder.