Singapore court approves restructuring plan of crypto exchange Zipmex

According to an update on the cryptocurrency exchange Zipmex website, the Singapore court approved Zipmex’s restructuring plan and approved the establishment of an “administrative convenience category” for creditors whose wallet assets do not exceed $5,000. In addition, Zipmex's request to extend creditor protection by three weeks to April 23 was also granted. A Singapore court has directed Zipmex Group to write to the court and its creditors by April 13, 2023, providing an update on the status of Zipmex Group's restructuring. Foresight News previously reported that Zipmex told employees that the company may be liquidated because investors in the Zipmex rescue plan failed to pay.