The cryptocurrency market continues to plummet, and lending companies are feeling the heat across the board.
- Another crypto lender to stop transactions is Vault. According to a blog post from Monday, July 4, the company has seen customer withdrawals exceed $197 million since June 12.
- This appears to have happened shortly after the market collapse caused by the collapse of the Terra-Luna ecosystem.
- Wald also enlists the services of financial advisors in India and Singapore and is “fully committed to working … to explore and analyze all possible options, including potential restructuring options, that will affect Wald’s stakeholders.” best protect the interests of
- In addition, the company has also suspended withdrawals, trading and deposits.
In the meantime, we have made the difficult decision to suspend all withdrawals, trading and deposits on the Walled Platform with immediate effect. We believe this will help facilitate the exploration of the suitability of potential restructuring options in collaboration with our financial and legal advisors.
- Vuld is just one more in a string of lenders that has had to do the same. The most notable name in this space is certainly the Celsius Network, which recently resumed evacuations, cutting its workforce by over 150 people.
- Back in July 2021, the company raised $25 million in a funding round led by Weller Ventures, with participation from Pantera Capital and Coinbase Ventures.
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