Compartir este artículo
Zipmex Confirms Loans Worth $53M to Babel and Celsius
CoinDesk reported Wednesday that the exchange's financial difficulties link back to crypto lender Babel Finance.
Por Helene Braun
Singapore-based cryptocurrency exchange Zipmex said Thursday in a Facebook post offering further details on a deposit-withdrawal pause announced earlier this week that it lent money to the troubled crypto lenders Babel Finance and Celsius.
According to the Facebook post, the Zipmex exchange’s current exposure to Babel is $48 million, with an additional $5 million to Celsius, which filed for bankruptcy last week.
STORY CONTINUES BELOW
No te pierdas otra historia.Suscríbete al boletín de Crypto Daybook Americas hoy. Ver todos los boletines
Sources told CoinDesk on Wednesday that Zipmex lent as much as $100 million from a high-yielding program known as ZipUp to Babel, but a Babel spokesperson subsequently said that the loan was far smaller, while not disclosing the exact amount.
Both Babel Finance and Celsius suspended withdrawals in June amid market volatility.
Zipmex, which made headlines Wednesday for freezing withdrawals amid financial difficulties, said that “resulting financial difficulties of our key business partners” amid market volatility were part of the reason for the decision.
“Ever since the black swan events surrounding the crypto space, Zipmex has retrieved the majority of our funds and assets that were historically deposited with our deployment partners and have been actively working to resolve the situation for the remaining outstanding assets,” according to the statement.
The exchange plans to write off the $5 million loan to Celsius and is in discussion with Babel to evaluate its options to resolve the issue, Zipmex wrote.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
South Korean retail keeps buying ether hoarder BitMine despite 80% drop: Report
The company's pivot to building an ether treasury sparked a 3,000% rally, attracting attention from high-risk investors.
What to know:
- South Korean retail traders continue to invest heavily in BitMine Immersion Technologies despite an 80% stock decline from its July peak.
- BitMine ranks as the second most popular overseas equity among South Koreans, with a net $1.4 billion invested this year.
- The company's pivot to building an ether treasury sparked a 3,000% rally, attracting attention from high-risk investors.
Top Stories
