Celsius, BlockFi and Voyager Cryptocurrency lending platforms such as bankruptcy one after another, cryptocurrency deeply shook the industry. These events, which started a big chain crisis, now seem to have spread to another company.
Vauld Suspended Operations
Singapore Vauld, a crypto-based cryptocurrency trading and lending platform, has become the most up-to-date company to stop withdrawals. CEO of Vauld Darshan Bathija In his post published today, he emphasized:
We had to make the decision to discontinue all withdrawal deposit and trading functions that were going to take effect for the time being.”
Vauld stressed that he is currently facing challenges posed by both the volatile market and its business partners. It is emphasized that $198 million has been withdrawn from the company since June 12, and this is related to the collapse of the TerraUSD stablecoin. In fact, Three Arrow Capital and Celsius were also hit hard for this reason, and the situation seems similar.
It is emphasized that Vauld is open to restructuring options and has actually started working with the Kroll consultancy company in this context. Vauld seems to have gone bankrupt in theory at the moment, and the CEO’s statement also stated that there are discussions about potential acquisitions.
undergoing similar processes. BlockFi if officially FTX Looks like it was bought by