UK crypto platform Ziglu announces bankruptcy and enters special administration

UK crypto fintech startup Ziglu has entered special administration on July 7 due to financial difficulties, marking the company's official bankruptcy. Ziglu was authorized by the FCA and provided crypto investment and payment services. In June of this year, it froze Boost accounts and voluntarily restricted business operations, exposing funding issues. The FCA emphasized that its crypto business is not regulated, and the timing and feasibility of customer asset withdrawals remain unclear. The special administrators will be responsible for the bankruptcy process and asset distribution.