Cryptocurrency exchange Zipmex will release ether (ETH) to users’ wallets on Aug 11 with bitcoin (BTC) following a week later, having blocked customers from taking direct custody of their coins last month.Read MoreCoinDesk
Cryptocurrency exchange Zipmex will release ether (ETH) to users’ wallets on Aug 11 with bitcoin (BTC) following a week later, having blocked customers from taking direct custody of their coins last month.
Zipmex plans to release “a specific amount” of ETH and BTC on the two dates, the exchanged tweeted on Monday. “We’re working hard to release the balance of Z Wallet holdings ASAP,” it added.
This continues Zipmex’s process of gradually releasing coins to users’ wallets, following the release of solana (SOL), cardano (ADA) and XRP tokens last week.
On July 20, the exchange suspended user withdrawals. Zipmex users were left stranded as they were not able to sell or trade their crypto.
The firm took this step as it faced losses of $100 million related to crypto lender Babel Finance. In mid-June, Babel froze withdrawals due to turmoil in the crypto market, this contagion also led to a flurry of defaults among over leveraged firms like Three Arrows Capital and Celsius Network.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Bitcoin Magazine CleanSpark Signs $6.6 Billion Data Center Lease as Bitcoin Miner Pivots to Compute…
Bitcoin Magazine Bitcoin Price Jumps Above $64,000 as Cooler-Than-Expected Inflation Strengthens the Case for Rate…
BIP-110 sought to limit non-financial data on Bitcoin's blockchain but instead reignited debates over censorship…
Your day-ahead look for July 14, 2026Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Bitcoin consolidated after Monday's selloff as Donald Trump threatened more Iran strikes, gold extended its…
Long-term holders are quietly transferring supply to a new generation of buyers, but looming Federal…