Vauld has been one of the biggest names in the cryptocurrency market. They have been a major crypto lending platform that has been very much successful in the past. Since the time of its incorporation, the company has started to steadily climb the ladder of success. Unfortunately, it all came to a screeching halt as the crypto market was plunged into darkness. The past few months have been terrible for the ones interested in crypto. The market witnessed a huge downside in the last few months.
Almost every company in the market has been met with significant losses. Some of the well-known companies like Coinbase and Coinflex have been compelled in taking drastic measures. While Coinbase has declared itself on the verge of bankruptcy, Coinflex has cut down on its employees by a significant number.
Even big fishes like Ethereum and Bitcoin could not evade the wrath of the ongoing downward trend. Vauld too has suffered a similar fate. The crypto lender suffered huge losses and hence has a huge debt in the market. The company has been plagued by a number of problems since then. They have also stopped all withdrawals on their platform. Let us learn more about the story in detail below.
Vauld In Deep Trouble
Vauld has landed itself in huge trouble. They have a huge debt in the market and have been pleading with the court for an extended moratorium period. The company asked in the court of law to provide them a moratorium for six months
However, the court has just passed their verdict. They have granted Vauld a moratorium period of just three months, after which, they have to start making their payments to their creditors. It will be interesting to see which way the story goes.