Vauld is one of the biggest names in the crypto market. They have been one of the most renowned lenders of cryptocurrency. However, the recent trends in the market have made everyone skeptical about the future of crypto. Most people are refraining from investing and companies are also looking for safety protocols so that they do not lose out. The recent decision that was taken by the famous crypto lending company also reflected the fact that they demanded added security.
The company draws assistance from Coinbase and Peter Thiel. Recently, the company decided to stop its withdrawals and operations for the month of July. They have demanded a moratorium in opposition to their creditors. The entire crypto market has been going through a rough patch recently. Most of the companies could not garner a profit and lost a large amount of investments over the course of the last few weeks.
Even the bigger companies like Ethereum and Bitcoin experienced a severe dip in their prices. Thus, when the Singapore-based company asked for some security, it did not come as a shock for anybody. The company has already incurred a significant amount of damage that affected the functioning of the company to a large extent. Let us learn more about Vauld in detail below.
Vauld Looking For Redemption After Collapse
Vauld is currently looking for redemption after they were badly hit by the lows of the market. The company has sought protection against the creditors, by asking for an order of moratorium.
The granting of the moratorium would seem to be of great help to Vauld. This would help them to restructure and save their company that has been falling apart recently.