Lending Platform Vauld Looks to Restructure Amid Crypto Downturn, Suspends Transactions

Jamie Crawley
Updated ·1 min read

Don't miss CoinDesk's Consensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.

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

  • Vauld has seen withdrawals of around $198 million since June 12, the day when the downturn in crypto markets began to come to a head. Crypto lender Celsius paused withdrawals on its platform the following day.

  • Vauld is exploring potential restructuring options as a means of navigating the challenges it faces, it said in a blog post on Monday.

  • Last month, Vauld announced it would be laying off 30% of its staff, with most of the team being located in India.

  • Vauld has enlisted Kroll for financial advisory services. It also hired Cyril Amarchand Mangaldas and Rajah & Tann Singapore LLP as legal advisors in India and Singapore respectively.

  • The lender raised $25 million in Series A funding last year to expand its retail crypto banking platform and drive international expansion. Peter Thiel-founded Valar Ventures, Pantera Capital and Coinbase Ventures are among its investors.

Read more: Crypto Lender Celsius Network Exploring Options to ‘Preserve and Protect’ Assets

  • Up next
  • Up next
  • Up next
  • Up next

Latest Stories

  • Stock market today: Gold and oil spike and US futures drop after Iran comes under fire

    Gold and oil prices jumped following Israel's apparent retaliation against Iran before paring gains, while stock markets look set to open lower.

  • Receiver Eugene Lewis optimistic about Edmonton Elks' 2024 fortunes

    Receiver Eugene Lewis can't wait to start earning quarterback McLeod Bethel-Thompson's trust. The signing of Bethel-Thompson, a two-time Grey Cup champion, was Edmonton's biggest off-season move. The Elks have finished last in the West Division three consecutive years. CFL training camps open next month. "I know what a great quarterback can do," Lewis said. "Somebody with experience, somebody who's been through it and won championships and MBT has done that. "To have another guy like that, anoth

  • The Latest | Full jury of 12 people and 6 alternates seated in Trump's hush money trial in New York

    NEW YORK (AP) — A jury of 12 people and six alternates was seated on Friday in former President Donald Trump’s hush money criminal trial. The completion of the jury selection process tees up the first-ever criminal trial of a former U.S. president for opening statements and weeks of testimony in a case charging Trump with falsifying business records to suppress stories about his sex life emerging in the final days of the 2016 election. The jury includes a sales professional, a software engineer,

  • EastEnders' Balvinder Sopal thanks colleagues after mum's death

    EastEnders star Balvinder Sopal has thanked colleagues for their support in the days following the death of her mother, Nirmal.

  • Europe discards Arsenal and Liverpool shift focus to EPL title race

    LONDON (AP) — What will it take to win the English Premier League with six games remaining? That's easy — perfection. Manchester City, Arsenal and Liverpool — all eliminated from their European competitions this week — are locked in a tight battle for the title. Defending champion City leads both rivals by two points but with Pep Guardiola's team playing an FA Cup semifinal against Chelsea on Saturday, Arsenal and Liverpool can gain ground. “If you want to be champion in the Premier League, you

  • Israel’s strike has exposed Iran’s fatal weakness

    Israel’s presumed counterstrike against Iran has proved Joe Biden and David Cameron wrong in their insistence that Israel should just “take the win”. Instead, it fought back – and yesterday Iran was trying to pretend that nothing had happened.

  • Next UN climate talks are critical to plot aid for poorer nations, says incoming president

    WASHINGTON (AP) — The man who will run United Nations climate talks this November views the negotiations as a key link in international efforts to curb global warming. The conference in Baku, Azerbaijan, must build on last year's successful agreement to transition away from fossil fuels, said Mukhtar Babayev, Azerbaijan's environment minister who will serve as conference president of the talks known as COP29 this fall. And this fall's meeting must help pave the way for countries to come together

  • Police reviewing allegations against suspended Tory MP accused of pay-off to ‘bad people’

    Officers consider letter calling on them to investigate

  • Sunak accused of making mental illness ‘another front in the culture wars’

    Charities say high rates of people signed off work are caused by crumbling public services after years of underinvestment

  • TREASURIES-Yields slip as investors move toward safe haven assets

    Easing concerns over a broad Middle East conflict will likely continue to pressure Treasuries, which have sold off for much of the week on worries that persistent inflation will prevent the Federal Reserve from cutting interest rates this year. A number of Fed officials have said this week that they do not feel urgency to cut rates given the strength of the U.S. economy and labor market. Minneapolis Fed President Neel Kashkari told Fox News Channel late Thursday that he also wants to be "patient," with the first rate cut "potentially" not appropriate until next year.

  • ‘Get off my mom’: Stabbing suspect killed in house fire after standoff with Sacramento deputies

    A child was screaming at the suspect to leave his mother alone after a stabbing, Sacramento deputies said.

  • Penguins GM Dubas joins Canada's front office for world hockey championship

    CALGARY — Pittsburgh Penguins general manager and president of hockey operations Kyle Dubas has been named to Canada's front office team for the upcoming world hockey championship. Hockey Canada announced Friday that Dubas will make his international debut as an associate general manager on GM Rick Nash's staff. Dubas, from Sault Ste. Marie, Ont., recently completed his first season leading Pittsburgh's front office. The Penguins made a late playoff push but ended the season three points behind

  • Travellers ‘sleeping on floor and missing medication’ amid Dubai airport chaos

    One man said he witnessed a bottle being thrown and staff raising their voices.

  • Full jury of 12 people and 6 alternates is seated in Trump's hush money trial in New York

    NEW YORK (AP) — A full jury of 12 people and six alternates was seated on Friday in Donald Trump’s hush money case, drawing the first criminal trial of a former U.S. president a step closer to opening statements. Lawyers spent days quizzing dozens of New Yorkers to choose the panel that has vowed to put their personal views aside and impartially judge whether the presumptive Republican presidential nominee is guilty or not. The jury includes a sales professional, a software engineer, an English

  • Super Micro Computer stock sinks, bitcoin trades higher ahead of halving: Yahoo Finance

    Shares of Super Micro Computer (SMCI) are plunging after the server company announced its third quarter earnings date, but didn’t pre-announce its results. It has investors concerned the quarterly update may not be as bullish as they had hoped. Bitcoin (BTC-USD) is rising ahead of its much-anticipated halving, which is expected to happen this weekend. Other trending tickers on Yahoo Finance include Netflix (NFLX), Nvidia (NVDA), and American Express (AXP). Top guests today include: 3:05 p.m. ET - Alex Morris, F/m Investments President and Chief Investment Officer 3:15 p.m. ET - Stacy Rasgon, Bernstein Managing Director and Senior Analyst 4:05 p.m. ET - Karen Karniol-Tambour, Bridgewater Associates Co-Chief Investment Officer 4:20 p.m. ET - Brian Gardner, Stifel Chief Washington Policy Strategist

  • Bank of Korea chief watching Middle East tensions for FX, growth outlook reviews

    South Korea's central bank chief on Friday said odds for any further policy action to stabilize the slumping Korean won now depend on how events in the Middle East unfold as the bank is ready to take steps to stabilize forex markets if needed. In an interview with Reuters, Bank of Korea Governor Rhee Chang-yong said tensions in the Middle East appeared to plateau after Iran downplayed Israel's retaliatory drone strikes against it but geopolitical uncertainty still poses risks for the dollar-won market, as well as the country's inflation.

  • Coroner's inquest to probe death of B.C. man shot dozens of times by police in 2018

    KAMLOOPS, B.C. — The British Columbia Coroners Service says it will hold an inquest into the death of a man who died in a hail of police gunfire after starting a shootout with RCMP officers in Kamloops. The service says the inquest will begin on May 6 at the Kamloops law courts to determine the facts related to the death of 35-year-old Eugene Marcano, who was shot and killed by Mounties on Sept. 14, 2018. A report from B.C.'s Independent Investigations Office in 2019 says Marcano initiated a sho

  • Apple pulls WhatsApp and Threads from App Store on Beijing's orders

    HONG KONG (AP) — Apple said it had removed Meta’s WhatsApp messaging app and its Threads social media app from the App Store in China to comply with orders from Chinese authorities. The apps were removed from the store on Friday after Chinese officials cited unspecified national security concerns. Their removal comes amid elevated tensions between the U.S. and China over trade, technology and national security. The U.S. has threatened to ban TikTok over national security concerns. But while TikT

  • Google staff ordered to leave politics at home after anti-Israel protests

    Google’s chief executive has told staff to leave their politics at home in a rebuke to employees who have campaigned against its work with the Israeli government.

  • Amazon's No. 1 bestselling vegetable chopper is a 'major time-saver,' and it's just $24 (that's over 50% off)

    'Gives my achy hands a break,' said one of over 76,000 happy shoppers.