Despite Zipmex’s Issues, CEO Marcus Lim Refuses to Resign

The Founder and CEO of the Thai-based crypto platform Zipmex – Marcus Lim – said he will stay in charge of the company unless the new major shareholders force him to resign. The firm halted customer withdrawals last month, but the executive vowed to reimburse all affected users.

  • It is safe to say that Zipmex went through some severe challenges because of the ongoing bear market. Last month, it halted client withdrawals and disclosed a multi-million exposure to troubled firms Babel Finance and Celsius Network.
  • Shortly after, the crypto exchange filed for moratorium relief to prevent its creditors from making claims for the next six months.
  • The turbulence resulted in panic among clients, and some of them asked the CEO – Marcus Lim – to step down from his post. According to them, his poor management decisions caused Zipmex’s problems.
  • In a recent interview for The Australian Financial Review, Lim asserted he will not resign until all lost funds are reimbursed to their holders. In achieving this goal, the CEO intends to bring in new majority shareholders.
  • Once this goal gets reached, Lim said he and Co-Founder Akalarp Yimwilai will step down, assuming the customers still insist on their resignations: 

    “Should this happen, my co-founder Akalarp [Yimwilai] and I have made it clear that we will fully cooperate with them and their wishes in the event they may be looking for a management change.”

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