UK crypto platform Ziglu declares bankruptcy and enters special administration

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According to ChainCatcher, the UK crypto fintech startup Ziglu has entered special administration on July 7th due to financial difficulties, marking the company's official bankruptcy. Ziglu, which was previously authorized by the FCA and offered crypto investment and payment services, froze its Boost accounts and voluntarily restricted business operations in June, revealing funding issues. The FCA emphasized that its crypto business was not regulated, and the timeline and feasibility of customer asset withdrawal remain unclear. The special administrators will be responsible for the bankruptcy process and asset distribution.

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