Vauld has suspended all withdrawals, trading and deposits on its platform, the Singapore-headquartered cryptocurrency exchange said on Monday.
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Fast facts
- The firm, backed by PayPal founder Peter Thiel’s Valar Ventures, Pantera Capital and Coinbase Ventures, said it is exploring “potential restructuring options.”
- Vauld said it intends to apply to the Singapore courts for suspension of any proceedings against relevant companies for the exchange to focus on restructuring.
- Vauld is the latest to join other crypto firms including CoinFLEX, Celsius Network, Babel Finance and Finbox to limit or halt withdrawals.
- In June, Vauld announced it was laying off 30% of its staff.
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