Coinbase and Peter Thiel-backed Vauld halts withdrawals and trading on its platform|Gage Skidmore|CC BY-SA 2.0
A cryptocurrency lender backed by billionaire Peter Thiel and Coinbase Global Inc. suspended customers withdrawals on Monday, becoming the latest among many such platforms to do so amid a volatile digital assets market.
Singapore-based Vauld said it froze operations—withdrawals, deposits and trading—after clients pulled nearly $200 million from its platform.
Advisers engaged
“We are confident that, with the advice of our financial and legal advisers, we will be able to reach a solution that will best protect the interests of Vauld’s customers and stakeholders,” Vauld Chief Executive Darshan Bathija said.
Vauld is one of the six cryptocurrency platforms to have either frozen or restricted customer operations since the crypto market began to crash in January this year.
