Thai crypto exchange Zipmex's $100 million venture capital buyout could be in jeopardy after the investor missed a $1.25 million payment, Bloomberg reported on Friday.
The payment was due on March 23 and was required to fund working capital, according to the report, citing a letter.
Zipmex advised that it would have to liquidate its technology unit unless it receives said payment.
The exchange was one of many to experience a liquidity crisis last summer following the collapse of Terra and its algorithmic stablecoin UST. Zipmex had issued loans to Babel Finance and Celsius Network, which were both unpaid.
It agreed a $100 million rescue package with V Ventures, a Thailand-based venture capital firm, at the end of last year, from which it has been receiving three tranches of funding, according to the letter.
STORY CONTINUES BELOW
Recommended for you:
Zipmex did not immediately respond to CoinDesk's request for comment.