Zipmex is one of many crypto companies that withered as the market slid earlier this year. Bitcoin fell from $69,000 to $17,000 in six months, bankrupting lenders like Celsius Network and Voyager Digital while Singapore-based hedge fund Three Arrows Capital imploded. Zipmex loaned $48 million to Babel Finance, also a crypto lender, and $5 million to Celsius, none of which has been repaid.