UK Bank Ziglu Enters Special Administration Amid Financial Struggles

UK-based bank Ziglu has entered special administration on July 7, 2025, following financial struggles.

Ziglu’s financial collapse impacts BTC, ETH, and customer withdrawals, drawing regulatory focus.

Ziglu’s Collapse: Administration and Crypto Impact

Founded by ex-Starling Bank executives, Ziglu faced financial difficulties, leading to its special administration appointment on July 7. Mark Hipperson founded Ziglu to offer crypto products and e-money services.

Regulatory intervention paused Ziglu’s operations, affecting BTC, ETH, and altcoin holdings. Customers are now restricted to fund withdrawals only.

“A few companies have failed that deal with cryptocurrencies. There can be smaller failures that do impact the marketplace, but I don’t believe many of those impacted UK retail customers,” said Mark Hipperson, Founder & CEO, Ziglu.

No significant response from industry leaders or the crypto community, highlighting Ziglu’s smaller market presence. The FCA has not commented further.

BTC Market Status Amid Ziglu’s Challenges

Did you know? UK-based fintechs like Ziglu have faced difficulties similar to other failed firms, echoing challenges within the local crypto market over the past five years.

Bitcoin (BTC) holds a $2.33 trillion fully diluted market cap, priced at $111,126.65. It dominates the market by 63.79%. BTC has seen a 37.84% rise over 90 days, per CoinMarketCap data.

The Coincu research team suggests Ziglu’s case underscores regulatory challenges in crypto banking. The event reflects broader market difficulties for crypto firms, emphasizing the need for robust financial management.