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Zipmex said that it is working to recover funds from Babel Finance and has signed a MOU with two investors to fully re-enable withdrawals.
Monica Noronha 4 min read 
Singapore's financial regulator confirmed that the impact of Terra's collapse on its economy was minimal and that it is working on stablecoin regulation that will include feedback from the public.
The court has asked Vauld to share cash flow and management of accounts details with creditors within two and eight weeks respectively.
Zipmex exchange at the brink of a collapse turns to the Singapore High court for bankruptcy protection as it looks to raise more funds to continue operation.
Three Arrows Capital (3AC) was founded in 2012 by Kyle Davies and Su Zhu, who attended Columbia University together and later worked as colleagues at banking giant Credit Suisse.
Zhu and Davies of Three Arrows Capital recount the story behind the hedge funds rise and fall, as they prepare to relocate to Dubai.
Recent market turmoils and the resulting financial problems of key business partners led Zipmex to halt withdrawals, the firm said.
The 3AC liquidators have hired Singapore-based counsel to persuade the city-state's High Court to recognize the BVI liquidation order.
Singapore's crypto players expect the country to become more strict towards crypto firms as they expect more bankruptcies from companies like Three Arrows Capital.
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