People familiar with the matter: Zipmex, a Southeast Asian encryption exchange, may sign a rescue plan of more than US$100 million

According to The Block, citing sources, Southeast Asian cryptocurrency exchange Zipmex may sign a bailout plan worth more than $100 million, in which V Ventures, a venture capital firm founded by Chalermchai Mahagitsiri, the son of Thai billionaire and coffee king Prayudh Mahagitsiri, will lead the deal. The bailout plan is in exchange for a 90% stake in Zipmex. V Ventures is expected to close the deal on Friday if final conditions can be agreed, the sources said. One of the requirements is that Zipmex's key executives all agree to a three-year employment contract, which prohibits them from leaving the company; Marcus Lim and Akalarp Yimwilai and Chief Marketing Officer Proud Limpongpan signed a personal guarantee to cover any losses that V Ventures may suffer.