Zipmex, the Asia-focused crypto exchange that froze some withdrawals last week, said it’s seeking to raise at least $50 million to repair its balance sheet. The company confirmed the targeted fundraising amount in an emailed response to questions from Bloomberg. Zipmex is in discussions to sell all or part of itself after lending money to troubled crypto firms Babel Finance and Celsius Network Ltd., a person with knowledge of the matter said, asking not to be named discussing private deliberations.

A federal bankruptcy court has frozen the assets of Three Arrows Capital, the once-prominent crypto hedge fund that managed as much as $10 billion in assets until it fell into liquidation last month, the Washington Post reported. In an emergency hearing Tuesday, Judge Martin Glenn of the Southern District of New York granted a motion allowing liquidators to “transfer, encumber, or otherwise dispose” of any Three Arrows Capital assets located in the United States. In addition, the court authorized subpoenas for the founders, whose whereabouts are unknown.

Consumer inflation expectations surged in Canada, hitting fresh highs in the short-term and up "significantly" over the long-term, a Bank of Canada survey showed Monday, bolstering calls for a very rare 75-basis point rate increase, Reuters reported. "Consumers' expectations for inflation have risen, alongside concerns about prices for food, gas and rent," the central bank said in its second quarter Survey of Consumer Expectations.

Crypto hedge fund Three Arrows Capital (3AC) is seeking protection from creditors in the United States under Chapter 15 of the U.S. Bankruptcy Code, which allows foreign debtors to shield U.S. assets, according to a court filing on Friday, Reuters reported. Singapore-based 3AC is one of the highest-profile investors hit by the sharp sell-off in crypto markets and is being liquidated, Reuters reported on Wednesday. Representatives for 3AC filed a petition in the U.S. Bankruptcy Court for the Southern District of New York on Friday, according to court documents.

Relocating euro clearing from London to the European Union must be "market-led" rather than mandatory, with the shift already well underway, the head of Eurex Clearing said on Tuesday, Reuters reported. After Brexit, the European Union has said it will not allow EU market participants to clear euro derivatives in London after June 2025, citing a need to end its heavy reliance on that market in the same way the bloc is cutting dependency on Russian energy.

The United Arab Emirates will introduce a form of unemployment insurance, the cabinet said on Monday, the latest reform by the Gulf country as it strives to attract talent and investment amid increasing regional economic competition, Reuters reported. Insured workers would receive some money for a limited time period if made unemployed, UAE Prime Minister and Vice-President Sheikh Mohammed bin Rashid al-Maktoum, who is also the ruler of trade hub Dubai, said on Twitter, citing a cabinet decision.

Airlines face a slew of growing costs in the coming year including higher insurance, fuel, labour and lease rates, the chief executive of major aircraft lessor SMBC Aviation Capital said on Thursday, Reuters reported. Managing those will be the industry's biggest challenge in the next 12-24 months despite a rebound in demand, Peter Barrett told the Airfinance Journal conference in Dublin. "If I had to pick one topic that's going to be a challenge for the industry over the next 24 months, it will be the cost base and how elastic will demand be relative to that," Barrett said.

A Dutch court ruled that Microsoft Corp. must allow bankruptcy trustees appointed to the Russia-linked Amsterdam Trade Bank to access to its data or face fines, Bloomberg News reported. The technology giant risks daily fines of 10 million euros ($10.5 million), with a maximum penalty of 100 million euros, if it doesn’t comply with the ruling, court-appointed trustee Job van Hooff said by phone late Tuesday. ATB, a lender linked to Russia’s Alfa Group, was declared bankrupt last month in the Netherlands after U.S. and U.K. sanctions paralyzed its payment systems.

Bank of India has filed an insolvency petition against Future Retail Ltd (FRL) at the bankruptcy court for non-payment of dues, the retailer said in a notice issued to stock exchanges on Thursday evening, the Economic Times of India reported. The company said it defaulted on payment of monies due in terms of framework agreement it entered with the bank. The decision of lenders to file an application with National Company Law Tribunal (NCLT) will have a bearing on the Rs 24,713-crore offer that Reliance Industries-linked entities made to acquire Future Group companies in August 2020.

Once conduits for hundreds of millions of dollars looted from 1MDB, a group of offshore entities are being repurposed to try to track down the Malaysian sovereign wealth fund’s stolen money, Bloomberg News reported. Three British Virgin Islands-based companies linked to 1MDB on Tuesday filed for chapter 15 bankruptcy in Florida, utilizing the section of the U.S. code that allows foreign debtors to bring proceedings in the states. Their aim is to recover a portion of the $8.5 billion allegedly stolen from 1MDB, some of which may be in the U.S., the companies said.