Vauld

Vauld, a crypto lender backed by Coinbase Inc., said it froze withdrawals and hired advisers to explore a potential restructuring, joining rivals from ...

Amid the current crypto market tumult, crypto trading and lending platform, Vauld, stops customer withdrawals.

“We do not have any exposure to Celsius or Three Arrows Capital, and we remain liquid despite market conditions. Amid the prevailing crypto market tumult, crypto trading and lending platform Vauld has stopped customer withdrawals from Monday. The government has defended the Agnipath scheme as a way to lower the average age of soldiers and rejuvenate the Army with 'tech-savvy' youth.

Cryptocurrency Exchange Vauld Suspends All Operations Over 'Financial Crisis'; Know More; The suspension has been in force with immediate effect, Vauld CEO ...

“We are confident that, with the advice of our financial and legal advisors, we will be able to reach a solution that will best protect the interests of Vauld’s customers and stakeholders," it said. In the statement available on its website, CEO and co founder Darshan Bathija wrote, “The Vauld management wishes to inform that we are facing financial challenges despite our best efforts. Bathija said that Vauld is at present with potential investors into the Vauld group of companies.

Cryptocurrency exchange Vauld has suspended all withdrawals, trading and deposits on its platforms in view of rising “financial challenges”.

Vauld further said in the statement that it has suspended all withdrawals, trading and deposits on the Vauld platform with immediate effect. Vauld said it is in discussion with potential investors. No need to pay 30% tax and 1% TDS on some NFTs and digital assets.

Coinbase-backed Indian crypto exchange Vauld suspends trading, deposits and withdrawals amid market downturn · Vauld said that it is exploring all options with ...

- Best Smartwatches It said that “specific arrangements” will be made for customers to meet margin calls in connection with collateralized loans. “We are currently in discussions with potential investors into the Vauld group of companies.

Singapore-based crypto lending and trading platform Vauld said on Monday it would suspend withdrawals and trading and seek new investors, the latest sign of ...

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Vauld is the latest victim of the cryptocurrency price plunge this year that has exposed flaws in a number digital coin projects and business models.

Billions of dollars were wiped off the value of the cryptocurrency market in the three-month period. But Vauld has become the latest victim of the plunge in cryptocurrency prices this year. Vauld's move to halt withdrawals comes less than three weeks after CEO Bathija said the company "continues to operate as usual despite volatile market conditions."

The company has suspended all withdrawals, trading and deposits on the Vauld platform with immediate effect. Last month, Vauld also laid off 30% of its ...

“We are currently in discussions with potential investors in the Vauld group of companies. Now, the Singapore-based wrote in a blog post that the current market climate has led to significant customer withdrawals. Triggered by one such withdrawal symptom, crypto platform Vauld has announced plans to suspend operations.

Singapore-based crypto lender Vauld has suspended all withdrawals, trading and deposits on its platform as it looks at restructuring options.

Digital asset lender says customers have pulled $200mn from its platform since mid-June.

Trade of cryptocurrencies in India Vauld halts trade and withdrawals, they claims that as it explores possibility of restructuring, it is looking for new ...

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. The company said that it would be in the best interests of stakeholders to take immediate action in the circumstances. Singapore-based Vauld said it is looking for new potential investors as it considers the option of restructuring.

The Coinbase-backed startup has started exploring restructuring options—becoming the latest casualty of the crypto market's nearly $2 trillion decline.

The price of bitcoin, at roughly $19,500, has fallen more than 70% from an all-time high of about $69,000 in November. For months, consumer prices have surged at the highest level in 40 years—pushing the Federal Reserve to hike interest rates and unwind economic support while investors worry the aggressive actions might start a recession. In a blog post early Monday, crypto lender and trading platform Vauld said it "made the difficult decision to suspend all withdrawals, trading and deposits...

Cryptocurrency lender Vauld is now exploring restructuring options and applying for a moratorium after laying off 30% of its staff in June.

This will be done to “give us breathing space to carry out the proposed restructuring exercise,” Bathija said. Sheraz Ahmed, managing partner at STORM Partners said the short-term outlook for the industry doesn’t look too positive. Vauld has ominously appointed Asia Pacific consulting unit Kroll as its financial advisor to explore potential restructuring options, according to the blog.

The Singapore-based crypto platform announced that it would halt operations and pause withdrawals until further notice.

BlockFi, a New Jersey-based lending platform, recently agreed to a revolving line of credit from crypto exchange FTX with the potential for acquisition due to the former's recent financial troubles. “Could I have my BTC back? “You can’t hold investors’ money against their will.”

Singapore-based crypto platform Vauld will suspend all withdrawals, trading and deposits on its platform with immediate effect.

Specific arrangements will be made for customer deposits as may be necessary for certain customers to meet margin calls in connection with collateralised loans.” We seek the understanding of customers of the Vauld platform that we will not be in a position to process any new or further requests or instructions in this regard. Vauld added that it has engaged the services of Kroll Pte Limited as its financial advisor, as well as Cyril Amarchand Mangaldas and Rajah & Tann Singapore LLP as its legal advisors in India and Singapore respectively.

The crypto exchange is in discussions with potential investors in the Vauld group of companies. It is also planning to apply to the Singapore courts for a ...

It is also planning to apply to the Singapore courts for a moratorium. Interestingly, only a fortnight ago, the exchange said it will soon ship significant products and announced its plan for the next six months. This announcement comes within two weeks of reducing its headcount by about 30%. Headquartered in Singapore, with a product and tech office in India, the crypto platform was started in 2018.

Vauld CEO Darshan Bathija said in a blog post that it was facing "financial challenges" due to: "the volatile market conditions, the financial difficulties ...

Vauld said it had appointed legal and financial advisers, was in discussions with potential investors, and would also apply to the Singapore courts for a moratorium that would have any proceedings against it halted to give it time to carry out a restructuring. Crypto lenders have been particularly affected and crypto exchange FTX has signed a deal with an option to buy embattled crypto lender BlockFi for up to $240 million, the company said last week. Vauld CEO Darshan Bathija said in a blog post that it was facing “financial challenges” due to: “the volatile market conditions, the financial difficulties of our key business partners inevitably affecting us, and the current market climate which has led to a significant amount of customer withdrawals in excess of a $197.7 million since June 12.”

The move comes during the crypto winter which has seen mass layoffs and platforms freezing user funds.

The past weeks have seen crypto exchanges freezing withdrawals while others like Crypto.com and Coinbase announced mass-layoffs, citing market conditions. Mr. Bathija also said the company planned to apply to the Singapore courts to pause proceedings against related companies, so that Vauld would be able to carry out its “restructuring exercise.” “In furtherance of this, we have engaged the services of Kroll Pte Limited as our financial advisor, as well as Cyril Amarchand Mangaldas and Rajah & Tann Singapore LLP as our legal advisors in India and Singapore respectively,” stated the release.

Vauld on Monday paused operations and said it was exploring restructuring options due to "financial challenges."

If successful, Nexo said it plans to restructure the company and pursue an expansion in Southeast Asia and India. Without a central bank to depend on at the time, the remaining lenders that survived the crash were rescued by top financiers, most notably J. P. Morgan. Asked how much Nexo was willing to pay for Vauld, co-founder Antoni Trenchev said it was "premature" to speak about a valuation at this stage. Sam Bankman-Fried, the billionaire behind crypto exchange FTX, has become a lender of last resort for the industry. Vauld on Monday paused operations and said it was exploring restructuring options due to "financial challenges" posed by a sharp plunge in cryptocurrencies. It's the latest firm to get caught up in the chaos gripping the crypto world lately.

Nexo said it has a 60-day exclusive due diligence period in which to decide if it will acquire up to 100% of Singapore-based Vauld.

As news emerges that Bulgaria-based crypto lender Nexo is set to buy collapsed rival Vauld, the centralised finance (CeFi) landscape shows signs of ...

Nexo and Bankman-Fried are poised to become central figures in the CeFi consolidation; former Whitehouse director of communications Anthony Scaramucci went as far as likening the latter to John Pierpont Morgan in an interview with CNBC. But with more and more bad press emerging from the CeFi market, crypto contagion could be a self-perpetuating downward spiral at this point, and customers continue to bank run on the platforms lucky enough to still be in the black. A revival of trust in CeFi will undoubtedly require a shake up of how these platforms operate, particularly in regards to unsustainable yield offerings and the ways in which custodial funds are used.