Singapore-based cryptocurrency exchange Zipmex has announced that it is considering a possible offer from an interested party and that due diligence should commence. The platform has not specified who the interested party is. Zipmex in Discussions with Potential Investors On Sunday, Zipmex tweeted a new announcement that it was looking at possible offers by interested parties for possible restructuring and fundraising. 📢 Important Announcement 📢Our conversations with various interested parties have progressed significantly. One of those parties has offered terms in an MOU which includes confidentiality obligations so as to be able to commence Due Diligence. #zipmex — ZIPMEX (@zipmex) July 24, 2022 Zipmex hinted about a potential buyout that the firm is currently in talks with but has not yet disclosed the name of the entity interested in buying the company citing “confidentiality obligations.” The exchange further added that the buyout talks are progressing positively, indicating a favorable stance. The tweet further added that the exchange has also commenced “due diligence,” a legal term that refers to an assessment done by a prospective buyer to evaluate the assets and liabilities of the firm. The exchange also specified that it was offered an MOU, a non-binding agreement that usually denotes the commencement of negotiations from both parties to reach a consensus. Zipmex was among several crypto firms hit by financial diff...
