UK crypto startup Ziglu enters special administration

Ziglu, a UK-based digital banking and crypto platform, has entered special administration due to severe financial distress, Crowdfund Insider reported. In June, the UK’s Financial Conduct Authority (FCA) imposed operational restrictions, leading the company to freeze its yield-generating “Boost” accounts and suspend e-money and crypto services. Previously, Ziglu raised funds through multiple crowdfunding rounds and came close to being acquired by U.S.-based Robinhood, which ultimately pulled out of the deal. The company is now urging users to withdraw their assets from wallets and accounts, amid ongoing uncertainty over the timeline and feasibility.